Beginning July 1, the government plans to implement new regulatory standards that could impose fines of up to $10 million on offenders.

“We are aware that people are facing financial pressures, and we are committed to ensuring that supermarkets are not engaging in price-gouging,” he stated.

“This initiative is designed to protect not only consumers but also farmers,” he added.

“Farmers are experiencing intimidation and retaliation,” he noted.

Despite supermarkets potentially opposing the new regulations, Littleproud remains doubtful about the validity of their objections.

“If the supermarkets haven’t done anything wrong under the existing codes of conduct, then there is nothing to fear,” he said.

“They only fear it because they’ve done the wrong thing by you.”

The treasurer also announced rules would be introduced that would make it mandatory for large retailers to accept cash for the purchase of essential items.

This includes supermarkets and fuel retailers, but smaller businesses will be exempt from these rules.