Price fixing schemes are rampant across several commodities industries.
We have seen it here in the U.S. with meat processors and now Canada Bread is admitting its guilt in arranging price increases with its competitors in 2007 and 2011.
The country’s leading bread producer will pay a fine of $50 million dollars. An independent food industry analyst says that it caused bread prices to be double the food price inflation.
Canadian Grocer Trade Journal publisher, George Cordon says that over the fourteen years price fixing period consumers paid out hundreds of extra dollars for their bread purchases.
“The price increase was about 7 cents at wholesale, which meant about 10 cents at retail. Ten cents isn’t going to break anybody’s back, but over a period of time, it can amount to quite a bit. That could, ultimately, have cost a regular bread shopper maybe $400 dollars,” he explains.
The $50 million dollar fine will actually be paid out by Mexican company Bimbo; they bought Canada Bread back in 2014.
House Agriculture Committee Democrats are calling for action on the Farm and Family Relief Act, warning that proposed SNAP cost shifts to states could reduce food assistance for low-income families amid ongoing tariffs and trade disruptions that continue to strain U.S. farmers.
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Record ethanol production and improving blending demand continue to support corn usage despite rising short-term inventories.
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Alissa White with American Farmland Trust joined us to provide insight into climate resilience efforts and strategies to help farmers manage weather-related risks.
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University of Nebraska President Dr. Jeffrey Gold joined us to share practical health and safety guidance for managing respiratory and skin health during the winter season.
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Roger McEowen with the Washburn University School of Law joined us to provide legal analysis on key cases shaping the agricultural landscape heading into the year ahead.
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