A 'potato cartel' is colluding to keep food prices high: report
Raw StoryThe high price of eggs has been in the news since bird flu spread across the U.S. “The potato cartel moves prices skyward in lockstep — harming all purchasers of potatoes in the process,” attorneys wrote in the court filing. Restaurants, grocery stores, and food distributors are reportedly involved in more than a dozen coordinated lawsuits nationwide, claiming that price-fixing by four French fry companies has been harming their profits. "Around 40 percent of all potatoes grown in the United States are sold to frozen potato companies — 17 billion pounds annually," the lawsuit said. The spokesperson for Lamb Weston Holdings told The Lever, “We believe the claims are without merit and intend to vigorously defend our position.” There's already an antitrust suit from the Federal Trade Commission on Kroger grocery store, alleging that it raised its egg and milk prices far above inflation rates.
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