The Financial Post reports in its Friday, Jan. 30, edition that Canada's first-ever Grocery Code of Conduct took effect on Jan. 1, but most grocery insiders do not think there will be any notable impact from it, according to a survey by CIBC Capital Markets. The Post's Denise Paglinawan writes that the code was created to improve the relationship between companies that supply food and other products, and the retailers that sell them. In December the voluntary industry agreement was finally signed by all five major grocery retailers in Canada, including Loblaw, Empire, Metro, Costco Wholesale Canada and Walmart Canada, as well as several large suppliers. According to CIBC's research, which surveyed a group of nearly 100 Canadian grocery insiders, more than 81 per cent of respondents said "no" to whether there will be any notable impact from the code. "Our sense from the supplier community has always been that a code of conduct would not materially change the balance of power in food retailing, so we were not surprised to see a lopsided response," CIBC analysts Mark Petrie and Chantel Pearce wrote in the report, saying that the first comprehensive Grocery Code of Conduct brings Canada into uncharted territory this year.