Wednesday, March 30, 2022

Beef price-fixing in Quebec

Consommateurs Quebec has filed a class-action price-fixing lawsuit against four beef-packing companies, claiming they conspired to control supply and prices in the province.

Cargill, one of the companies named, denied any wrongdoing and said there is vigorous competition among beef packers.

The others named at JBS USA, National Beef Packing and Tyson.

They are facing similar price-fixing charges in the United States where the four control about 80 per cent of the market. The Quebec lawsuit said they control 85 per cent of the Canadian market.

The lawsuit is similar to one involving bread and supermarket chains.

Loblaws has confessed in that case which remains under investigation by the federal Competition Bureau.