On Monday afternoon, President Joe Biden hosted a roundtable discussion on market consolidation with Ag Secretary Tom Vilsack, Attorney General Merrick Garland and U.S. farmers and ranchers. Biden said in too many industries, a handful of giant companies dominate the market, giving them free range to raise prices and reduce options for consumers. According to Biden, the meat industry is a textbook example on the price side and U.S. farmers and ranchers deserve a level playing field in the marketplace. “We’re going to fight for fair prices for America’s farmers, ranchers and families.” The White House has a new action plan to tackle market competition called the Action Plan for a Fairer, More Competitive and Resilient Meat and Poultry Supply Chain. One of the four strategies proposed includes investments to expand local meat processing. Vilsack said grants and loans would be given to address capacity, workforce and innovation challenges. “$150 million of the resource will be made under a request for proposal we’ll announce in the spring. These resources will be available to help projects that need help to accelerate the implementation plan.” Farmers Union, Farm Bureau and others had a seat at the table.
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