Report: suppliers being pressurised

THE Competition Authority has confirmed that retailers are pressuring suppliers – including the top Irish food firms – for better deals.

Many Irish food suppliers believe they will be forced out of business, warned economist Jim Power when he addressed the Oireachtas Agriculture Committee last week.

He said the big retailers are abusing their buying power in the market, and warned that 230,000 jobs in Irish food and drink production are endangered by retailers abusing the enormous buying power they gained when the Government abolished the groceries order in 2006.