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Archer Daniels Midland:Price Fixer To The World

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Author Info
John M. Connor () (Department of Agricultural Economics, College of Agriculture, Purdue University)

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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.

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Publisher Info
Paper provided by Purdue University, College of Agriculture, Department of Agricultural Economics in its series Working Papers with number 00-11.

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Length: 367 pages
Date of creation: 2000
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Handle: RePEc:pae:wpaper:00-11

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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.

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  1. Joseph E Harrington Jr, 2002. "Post-Cartel Pricing during Litigation," Economics Working Paper Archive 488, The Johns Hopkins University,Department of Economics, revised Jun 2003. [Downloadable!]
    Other versions:
  2. John M. Connor, 2002. "THE FOOD AND AGRICULTURAL GLOBAL CARTELS OF THE 1990s: OVERVIEW AND UPDATE," Working Papers 02-04, Purdue University, College of Agriculture, Department of Agricultural Economics. [Downloadable!]
  3. Catherine Roux & Thomas von Ungern-Sternberg, 2007. "Leniency Programs in a Multimarket Setting: Amnesty Plus and Penalty Plus," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
  4. Lawrence J. White, 1999. "Lysine and Price Fixing: How Long? How Severe?," Working Papers 99-02, New York University, Leonard N. Stern School of Business, Department of Economics. [Downloadable!]
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