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The Effect of Price Fixing Schemes on the Food Industry
In 2021, Tyson Foods and Pilgrim's Pride were fined $221 million and $108 million respectively for doing the same thing in the poultry industry. Bumblebee Food CEO Chris Lisztjwinski was sentenced to 14 months in prison in 2020 for price fixing in the tuna industry. Smithfield, whose Chinese owner, WH Group, is the world's largest supplier of pork settled, paying $83 million in fines. These conglomerates dominate our shelves and our politics while driving out competition and inflating prices. The biggest factors are consolidation and cutting corners of worker safety.