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https://www.cbsnews.com/pittsburgh/news/industry-consolidation-leads-to-higher-food-prices/

Industry consolidation leads to higher food prices, requiring sharp strategies by consumers
pittsburgh BY JON DELANO
JUNE 5, 2023 / 6:19 PM / CBS PITTSBURGH

PITTSBURGH (KDKA)
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Although the world price of grains like wheat, barley, and oats are dropping, food experts say it takes months to see that at the grocery store — in part, that's because both food manufacturers and grocery stores have hiked prices to make record profits.

"We're seeing higher profits for the major, particularly, for the food retailers and food processors," University of Guelph Professor Simon Somogyi said. "We have seen consolidation in the food sector quite dramatically over the last decades where there are fewer and fewer suppliers."

Fewer meat processors and food manufacturers mean higher prices, and, at the same time, we're seeing fewer grocery store chains, too.

"In the grocery space, we see a lot of consolidation," said Thomas Gremillion of the Consumer Federation of America. "We see more than 60 percent of America's grocery sales concentrated in just five companies."