In one of his first 2022 conference meetings, United States president Joe Bided and members of his cabinet discussed the need for greater competition in beef, pork and poultry processing, and announced a one billion action plan for fairer, more competitive, and more resilient meat and poultry supply chain, helping to bring down prices for consumers and ensure farmers and ranchers get a fair price for their product
Biden said his administration has been focused on tackling the lack of competition in agricultural markets and pointed to a small handful of companies that control the majority of markets for beef, pork and poultry, enabling them to squeeze farmers and ranchers while also raising prices on consumers
Apparently four leading meat processing plants control 85% of the beef market; in the poultry industry, four companies concentrate 54% of the market, and in pork the four leading processors dominate 70% of the market. With this in mind the Biden administration plans to strengthen small and independent processing plants with a one billion dollars investment.
Likewise the Department of Agriculture in concert with the Department of Justice and other enforcement agencies and with the Packers and Stockyards Act, should also protect consumers from confusion over wheter products labeled Product of USA are effectively US made. Attorney General Garland said that together with USDA they will launch a new portal in thirty days, where farmers and ranchers can lodge concerns about potential violations of legislation promoting competition.
During the conference farmers and ranchers explained that they are often at the mercy of just a few buyers who determine the price they receive, and that even as these conglomerates raise prices at the grocery stores, they push down prices for farmers and ranchers, taking wealth out of rural communities and hurting consumers.
Finally Attorney General Garland urged participants and farmers and ranchers to use the new joint web portal to confidentially share possible anticompetitive practices and actions they’ve faced.
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Poor JBS. Maybe it's better to invest in China now.Jan 10th, 2022 - 03:18 pm 0