Fri, 02 Jan 2009

A Cracked Plot

Price fixing? Agribusiness? Awww, come on! I'm shocked!

The Wall Street Journal is out with some major news: The Justice Department has opened investigations into food price collusion by tomato processors and producers of liquid and powdered eggs. The department’s already formally looking into price fixing in the cheese and milk markets as well as the citrus industry. Prosecuting antitrust violations in the agricultural sector is complicated because unlike other industries, the food industry has significant latitude to work collaboratively. That’s because of the Capper-Volstead Act, which was passed back in 1922 to help small farms that were up against large companies.

(link) [Chow Blog]

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