Meat producers agree to $8-million settlement in beef price-fixing case
Major meat companies have agreed to a $7.985-million settlement to resolve allegations of conspiring to fix beef prices in Canada.Summary
Several major meat companies, including JBS USA Company JBS-N, Swift Beef Company, JBS Packerland Inc., JBS Canada ULC, and National Beef, have agreed to a proposed settlement totaling approximately $7.985 million. The settlement aims to resolve a class-action lawsuit alleging that these companies conspired to fix, maintain, and control beef prices by exchanging sensitive information and coordinating slaughter volumes to manage supply. While the companies are not admitting wrongdoing, the agreement is currently awaiting court approval.
The lawsuit, filed in 2022, alleges that executives communicated secretly to control the supply of beef, contributing to significant price increases for Canadian consumers. For example, the price of ground beef has risen from $9.12 per kilogram in early 2017 to $16.07 per kilogram by May 2026, according to Statistics Canada data. While industry representatives often attribute rising costs to inflation, tariffs, and feed prices, this legal action targets alleged anti-competitive practices.
Court hearings to approve the settlement are scheduled for September in British Columbia and December in Quebec. The settlement specifically excludes beef products purchased by the food service industry, such as restaurants. Details regarding how individual Canadian consumers can qualify for and receive compensation from the settlement funds have not yet been released, as the courts will ultimately decide the distribution method.
(Source：Theglobeandmail)