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This study aims to evaluate changes on the structure, conduct and performance in the food industry after its productive reorganization which took place after the Brazilian trade liberalization. The period of analysis is from 1990 to 2004. The analytical framework was based on the paradigm Structure-Conduct-Performance of the Industrial Organization Theory. In order to provide the degree of market concentration, the indexes of Concentration Ratio CRk and Herfindahl-Hirschman HHI were estimated. Besides, the competition dynamics were evaluated using the turnover analysis. The CRk indicated a huge increase in the market share of the four and eight biggest firms. The HHI also followed this concentration trend. There was a high turnover in the industry, which demonstrates that despite the increasing market concentration the competition is very high among firms. The increased market concentration has not been used by firms as a way to obtain oligopoly profits. During the period, the food price level has decreased. Basically, the strategies of the firms are concentrated in market segmentation to increase sales. The food sector has been one of the most important in the Brazilian economy. However, the country needs to work its structural problems related to the spatial distribution of agricultural products. [ABSTRACT FROM AUTHOR]