The Australian Food and Grocery Council has reportedly spoken out against supermarket giant Woolworths Limited (ASX:WOW).
According to Fairfax Media, Woolworths has told suppliers they must slash prices by 10 per cent within the next two weeks or risk having their products removed from the company’s shelves.
Over 50 suppliers have allegedly contacted the Australian Food and Grocery Council about Woolworths and its competitor, Wesfarmers Limited (ASX:WES) owned Coles.
In the first half of the 2012 financial year Woolworths reported a net profit $975 million.
