Four companies control US meat market

Four companies control more than half of the United States meat market (pork, poultry and beef), said President Joe Biden, announcing support of more than 1,000 million dollars to increase the competition and competitiveness of the sector.

“Without significant competition, farmers and ranchers cannot choose who they sell to. Or put another way, our farmers and ranchers have to pay what these four big companies say they have to pay, in general,” he said.

“These companies can use their position as intermediaries to overcharge grocery stores and ultimately families,” added Biden.

For his part, at the same event on Monday, Tom Vilsack, the United States Secretary of Agriculture, said that the federal government is also working on a voluntary labeling program called “Product of the United States,” to allow consumers to know exactly where your resources are being spent, the dollar you consume.

“We believe this will better inform consumers when choosing,” said Vilsack.

Vilsack also stated that, with the American Rescue Plan, the country has the resources to be able to do significant work, committing more than 1,000 million dollars.

Meat market

On the one hand, $ 100 million will be used to reduce the cost of inspections of existing small and very small processing facilities.

$ 32 million in grants were awarded to 167 existing facilities to modernize their operations, allowing them to expand their opportunities beyond the state line to engage in interstate commerce.

Another $ 100 million will go towards available loan guarantees to address the mid-tier supply chain challenges facing this industry, from cold storage, general warehousing, and also to enable these facilities to expand their operations.

Vilsack estimated that this $ 100 million will leverage almost $ 1 billion of investment.

“And our announcement today is an $ 800 million grant and loan commitment to address the capacity, workforce and innovation challenges facing the industry. We are going to make available, Mr. President, 375 million in grants for expanded facilities and new construction of new facilities,” he said.


Redacción Opportimes


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