Elizabeth Warren vowed to fight a potential business merger she claims would “hand 75% of the southeast sugar market” to two firms.
“The Biden admin is trying to stop a merger handing 75% of the southeast sugar market to two firms, but a top @USDA economist testified against @TheJusticeDept— raising ethics concerns and likely increasing consumer prices,” posted Warren on Twitter.
From Time Magazine:
Two Senators sent a letter to Department of Agriculture Secretary Tom Vilsack on Monday demanding answers on the role one of his agency’s analysts had in blocking the Biden administration’s bid to prevent a merger between two of the nation’s largest sugar producers, according to a copy of the letter obtained by TIME.
Barbara Fesco, USDA’s top sugar industry analyst, argued in September against the Department of Justice’s case against allowing U.S. Sugar to buy its rival Imperial Sugar. The administration argued that the merger would lead to higher prices for millions of American consumers as an already concentrated market underwent further consolidation, leaving just two companies in control of roughly 75% of all sugar sales in the southeastern United States.