Supermarket giant Woolworths says it is open to working with parliament to address shelf prices, but argues the forced divestiture of stores proposed by the Greens as a tool against the misuse of market power could result in higher food prices and dampen investment.

Woolworths, the nation’s largest private employer with 200,000 staff in Australia and New Zealand, argued that even if divestitures were used as a regulatory back-stop they would not reduce shelf prices and may have unintended consequences.