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US Agency Charges Kraft, Mondelez With Wheat Price Rigging | Food Manufacturing

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Posted in April
by Associated Press

WASHINGTON (AP) — Federal regulators have charged two major U.S. food companies, Kraft and Mondelez, with manipulating prices for wheat and wheat futures in a scheme that reaped more than $5.4 million in profit.

The Commodity Futures Trading Commission announced the civil charges Wednesday against the two companies. The agency said the companies used "manipulative trading strategies" in December 2011 to artificially lower wheat prices on the spot market.

http://www.foodmanufacturing.com/news/2015/04/us-agency-charges-kraft-mondelez-wheat-price-rigging
 

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