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Boosted by aredridel@kolektiva.social ("Mx. Aria Stewart"):
HeavenlyPossum@kolektiva.social wrote:
Proponents of capitalism have explained to me repeatedly that market competition drives prices down and that capitalists cannot possibly collude to raise prices, because one of them will inevitably defect to undercut the others.
Anyway:
“The states and federal government accused Cal-Maine Foods, Versova and Hickman’s Egg Ranch of a behind-the-scenes arrangement to ‘artificially inflate the daily price quotations for eggs’ between June 2022 and March 2025. In particular, their investigation found that the companies coordinated on what bids they would submit to Urner Barry Publications, a company that runs an index key to determining how much grocery stores, restaurants and others pay for billions of eggs each year.”
https://apnews.com/article/egg-prices-collusion-settlement-d32b05892541613df3f4e4932109ee0c