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US egg producers have settled federal and state claims that they ran a three-year campaign to co-ordinate bids and artificially inflate benchmark egg prices.
Authorities described the scheme as a concerted effort to push reference quotations higher — a form of manipulation that, when it works, distorts pricing across the entire supply chain from processors and food manufacturers down to retailers.
What Authorities Alleged Federal and state investigators alleged that egg producers worked together over three years to co-ordinate the bids that feed into benchmark price quotations.
Benchmarks in commodity markets function as shared reference points: when buyers and sellers negotiate contracts, they often price against a published quotation rather than setting every deal from scratch.
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