US egg groups reach deal on pricing probe

Three major US egg producers have struck an agreement with the Department of Justice and 17 states on allegations the companies manipulated egg prices.

In a statement yesterday (29 June), the New York State Attorney General's office said Cal-Maine Foods, Versova and Hickman's Egg Ranch will supply a total of 53 million eggs to food banks and non-profit organisations in the states.

The suppliers will also make $3.3m in payments to the 17 states, which also include California, Texas and Florida.

According to the New York State Attorney General's office, Cal-Maine Foods, Versova/Centrum and Hickman's Egg Ranch co-ordinated between about June 2022 and March 2025 to influence a daily egg price index, leading to higher prices for retailers and consumers across the US.

New York Attorney General Letitia James said: "When powerful corporations collude behind the scenes to raise prices, working families suffer the costs. These egg producers manipulated the market to squeeze even more profit out of consumers and businesses."

In a separate statement, publicly listed Cal-Maine said the agreement followed a 15-month-long investigation by the DoJ that "centred broadly on whether egg producer

Fuente original: Yahoo Finance (https://finance.yahoo.com/economy/policy/articles/us-egg-groups-reach-deal-125810848.html)