Washington, DCTo prevent the occurrence of financial crimes in the nation's farmlands, federal regulators have announced plans to hold hearings examining the agriculture industry's adherence to antitrust laws.
The hearings, which will examine the legitimacy of competition in the industry, stem from accusations levied by members of the Obama administration that a handful of corporations exert undue control over the nation's food supply and have been making steady gains over the years, according to the Associated Press.
Christine Varney, head of the US Justice Department's antitrust division, told the new provider that though the claims stem from a basic consolidation of the industry, they warrant an official review.
Hearings begin on Friday and will feature regulators from both the Justice and Agriculture Departments in Des Moines, Iowa. An additional four meetings have been scheduled throughout the year.
The hearings will target the seed, dairy, poultry, beef and crop industries, among others.
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