Anyone who’s been to the grocery store lately knows the cost of food — meat, especially — is going up. At the same time, major meat suppliers are also experiencing climbing profits.
View all sponsorsWhile food companies claim that the price hikes are a result of increased costs due to the pandemic — as well as extreme weather, the White House in January cited a lack of “meaningful competition” in the meat sector as being at least partly to blame.
“Certainly the industry does face some genuine supply chain disruptions … but this is also a highly concentrated industry,” said Kelloway. “If these companies were just passing on their increased costs of production we wouldn’t see their profits increase. But not only are they not just maintaining their current profits, they’re rising at record levels.”
Nikhil Mehta, a corporate lawyer at Smith Amundsen with expertise in anti-trust law says that unjustifiably high profits could be a sign of price gouging by food suppliers.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Videos shows 282 dogs, some destined for meat trade, being rescued in ChinaConditions were so poor on the truck carrying the dogs that 12 puppies had died by the time it was intercepted by local police and activists.
Read more »
CSU Northridge event puts focus on electric vehicles amid soaring gas pricesCar show and roundtable discussion of energy issues planned Thursday at CSUN’s Institute for Sustainability. In-person attendees will be able to test-drive vehicles. Workshop also available via Zoo…
Read more »
Iraq oil exports $11.07 bn in March, highest for 50 yearsIraq exported $11.07 billion of oil last month, the highest level for half a century, as crude prices soared amid shortfall fears following Russia's invasion of Ukraine, the oil ministry said.
Read more »
This Potentially Deadly Bacteria Is Routinely Found In U.S. Chicken — Eat This Not ThatA new report shines a light on lax regulations pertaining to contamination with salmonella and campylobacter for American meat producers.
Read more »
Dem Rep. Pocan: There's Been Price Gouging in Oil 'For Over a Year Now'LOL. Nice try. Democrats still think their good ol' 'price gouging' lie works in explaining away Biden's disastrous inflationary economy that's crushing working class Americans.
Read more »
Axios reporter says Biden's economic accomplishments are 'largely irrelevant' amid high inflation, gas pricesAxios reporter Hans Nichols said Sunday on CNN that Biden's economic accomplishments were “largely irrelevant” amid increased inflation and gas prices.
Read more »