ARCHER DANIELS MIDLAND:PRICE FIXER TO THE WORLD

John Connor ()

No 00-11, Working Papers from Purdue University, College of Agriculture, Department of Agricultural Economics

Abstract: Both market structure and corporate practices of Archer Daniels Midland fostered the implementation of the largest price-fixing conspiracies seen in modern times. The overcharges imposed on U.S. buyers of lysine and citric acid during 1994-1995 by ADM and its co-conspirators amounted to at least $250 million, and the total amount of public penalties, private damages, and legal costs exceeds $666 million. Perpetrators of price-fixing now face monetary exposures that are five times the amount of the harm caused to buyers. These events have spurred renewed attention by U.S. antitrust authorities in prosecuting international cartels.

Keywords: Price fixing; lysine; citric acid; sweeteners; wet-corn milling; starch industry; Archer Daniels Midland; market structure; monopoly overcharge; antitrust law; legal damages; U.S. Department of Justice. (search for similar items in EconPapers)
Pages: 367 pages
Date: 2000
References: Add references at CitEc
Citations: View citations in EconPapers (18)

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http://ageconsearch.umn.edu/bitstream/28664/1/sp00-11.pdf (application/pdf)

Related works:
Working Paper: ARCHER DANIELS MIDLAND: PRICE-FIXER TO THE WORLD (2000)
Working Paper: ARCHER DANIELS MIDLAND: PRICE FIXER TO THE WORLD (1997)
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Persistent link: https://EconPapers.repec.org/RePEc:pae:wpaper:00-11

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