The French government could use tax measures to cut the profits of the food industry if it does not accept negotiations on high prices, Finance Minister Bruno Le Mer said.
The growth of food prices in France has reached a record 15 percent in recent months, despite the cheapening of raw materials, and the government is also angry, reports Hina.
"The food industry is reaping big profits and has to renegotiate with retailers and lower prices," Le Mer told reporters ahead of a meeting with representatives of major retail chains.
If, as he warned, the food industry does not return to negotiations, they will use all the measures at their disposal, including taxes, to take away the unfairly acquired profits from the backs of citizens.
Food prices in France rose sharply after regular annual negotiations in March saw food companies and retailers agree on an average price increase of ten percent to cover higher production costs.
Since high food prices are fueling overall inflation, Le Mer has repeatedly called for the reopening of negotiations, so that consumers can also feel the global drop in raw material prices.
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