FTC probes grocery and meat supply chain and spiking prices
The two largest U.S. supermarket chains, the leading grocery wholesaler and the No. 1 chicken processor are among nine companies ordered by the Federal Trade Commission to turn over detailed information for its study of "empty shelves and sky-high prices." The commission said it would investigate the causes of supply chain disruptions and the hardships imposed on consumers. No paywall
Shoppers could see less meat at higher prices due to coronavirus
Beef and pork supplies at U.S. supermarkets could shrink by nearly 30 percent and prices may rise by a stunning 20 percent by Memorial Day, the result of coronavirus slowdowns and shutdowns at packing plants, said agricultural lender CoBank on Tuesday. "Shortages and stock outs in the meat case couldn't come at a worse time. Food inflation and a weak U.S. economy is a combination that will leave many consumers in greater financial strain."(No paywall)