Home / Business and Economy / Egg Giants Accused of Price Collusion
Egg Giants Accused of Price Collusion
1 Jul
Summary
- Three major egg producers allegedly manipulated prices.
- Settlement requires 53 million eggs for food banks.
- Companies paid $3.3 million to states involved.
The Department of Justice, alongside more than a dozen states, has proposed a settlement with three major egg producers to address claims of price manipulation. These companies allegedly colluded between June 2022 and March 2025 to artificially inflate daily egg price quotations, impacting retailers and consumers. The settlement mandates the companies to supply 53 million eggs to food banks and community organizations in states party to the agreement. Additionally, they will pay $3.3 million to these states.
The investigation focused on allegations that the companies conspired to influence egg price benchmarks set by Urner Barry, a key reporting company. This practice allegedly created a false impression of demand, leading to higher prices nationwide. While some companies deny wrongdoing, stating market volatility due to factors like avian flu and the pandemic, the proposed settlement aims to deter future collusion and keep prices competitive for consumers.
