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January 20, 2021

Tyson Foods settles more chicken price-fixing claims

US meat major Tyson Foods has taken action in relation to claims from two groups of plaintiffs who accused it of illegally conspiring to inflate poultry prices.

By Leonie Barrie

Tyson Foods has settled litigation with two groups of plaintiffs who accused the US meat major of illegally conspiring to inflate poultry prices.

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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
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The Jimmy Dean and Hillshire Farm brands owner said it would pay US$221.5m to settle price-fixing litigation with ‘end-user’ consumers and with more than 30 commercial purchasers.

The settlement announcement was disclosed in filings on Tuesday (19 January) in the federal court of Chicago.

Last week, Arkansas-based Tyson agreed to settle anti-trust claims by chicken buyers. Its local peer Pilgrim’s Pride agreed to pay $75m to settle claims from the same group of purchasers.

The meat giants still face a number of other legal claims related to the same issue.

In December, a price-fixing case was brought against suppliers including Pilgrim's Pride, Tyson, Perdue Farms and Sanderson Farms by chicken restaurant chain Chick-fil-A.

The Atlanta-headquartered chain said it "purchased billions of dollars worth of broiler chicken" at prices that were "artificially inflated."

Tyson said the claims were "unfounded". 

And the US Department of Justice last year filed criminal price-fixing and bid-rigging charges against a number of poultry industry executives. All have pleaded not guilty.

just-food has asked Tyson to comment on this story.

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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