Higher food prices may result in increased food fraud

04/13/2014 | CNBC

Food prices are projected to increase by up to 3.5% this year, according to the Department of Agriculture, which may lead to an uptick in food fraud as exporters attempt to reduce costs or evade import taxes. Fraud costs the food industry between $10 billion and $15 billion per year, according to the Grocery Manufacturers Association, and most often occurs when common household products are mislabeled or tampered with, such as honey, juice, olive oil and seafood.

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