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A 'potato cartel' is colluding to keep food prices high: report (www.rawstory.com)

submitted 2 days ago by pelespirit@sh.itjust.works to c/politics@sh.itjust.works

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"Around 40 percent of all potatoes grown in the United States are sold to frozen potato companies — 17 billion pounds annually," the lawsuit said. Four firms then buy the potatoes, prepare and freeze them before packaging them.

While there were over a dozen companies 20 years ago, that number has slowly shrunk to just four. They're named: Lamb Weston, Canada-based company McCain Foods, the J.R. Simplot Company, and Cavendish Farms. The first two control about 70% of the market, while J.R. Simplot manages about 20%, the report says.

They've all told restaurants and bars that they'll increase prices by $0.12 per pound in April.

“It was just the most obvious example of collusion I’ve seen in a long time,” said Washington, D.C., bar owner Josh Saltzman. “All of them were raising their prices by virtually the exact same amount within a week of each other.”

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[-] lurch@sh.itjust.works 2 points 21 hours ago

before that it was eggs, wasn't it? what will be the next thing? flour?

[-] brucethemoose@lemmy.world 68 points 2 days ago

Pet peeve, but why not link the original site?

https://www.levernews.com/the-rise-of-big-potato/

And acknowledge the tip.

[-] pelespirit@sh.itjust.works 35 points 2 days ago

That's a fair point, but I honestly don't have the bandwidth. I have certain sources that I go through to post and then rarely go beyond those. I'm glad you posted the original. I suggest that if it bugs you, to help the OP out and post the original like you did here.

[-] fox2263@lemmy.world 2 points 1 day ago

This is my shocked face

[-] Lodespawn@aussie.zone 3 points 1 day ago

You people need Tony Gilati, but you can't have him.

[-] pelespirit@sh.itjust.works 2 points 1 day ago

You're right, we do. https://en.wikipedia.org/wiki/Spudshed

[+] homesweethomeMrL@lemmy.world -4 points 2 days ago

[deleted]

[-] SpaceNoodle@lemmy.world 4 points 2 days ago* (last edited 2 days ago)

"Around 40 percent of all potatoes grown in the United States are sold to frozen potato companies — 17 billion pounds annually," the lawsuit said. Four firms then buy the potatoes, prepare and freeze them before packaging them.

While there were over a dozen companies 20 years ago, that number has slowly shrunk to just four. They're named: Lamb Weston, Canada-based company McCain Foods, the J.R. Simplot Company, and Cavendish Farms. The first two control about 70% of the market, while J.R. Simplot manages about 20%, the report says.

They've all told restaurants and bars that they'll increase prices by $0.12 per pound in April.

“It was just the most obvious example of collusion I’ve seen in a long time,” said Washington, D.C., bar owner Josh Saltzman. “All of them were raising their prices by virtually the exact same amount within a week of each other.”

[-] homesweethomeMrL@lemmy.world 1 points 2 days ago

What's with downvoting quotes from the article?

[-] Talaraine@fedia.io 11 points 2 days ago

Probably because they were already quoted in the post and look like attempts to get upvotes?

[-] homesweethomeMrL@lemmy.world 4 points 2 days ago

Ah - fair enough then. I read the article first. Thilly me.

this post was submitted on 02 Jan 2025

256 points (98.9% liked)

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