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New Zealand Supermarkets Given Three Years to Boost Competition

New Zealand’s grocery industry has been given three years to fix competition issues or face tougher intervention, including the possibility of being forced to divest some stores to allow a new entrant.

Releasing the results of a study into the industry on Tuesday, the Commerce Commission said supermarket profits and prices are too high, and it made a raft of recommendations to improve competition in a sector dominated by two main players. The government has received the report and needs to make its own decisions on what to implement. The Commission is urging a review after three years to assess progress.