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Biden commits $655M and new regulations to strengthen meat industry competition
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Farm, ranch groups praise Biden competition order
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By Dean Best 10 Jul 2021 (Last Updated July 10th, 2021 22:10)
Reacting to the “disruption” caused by Covid-19, the Biden administration believes farmers and consumers should “have more choices in the marketplace”.
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The US government is set to invest in the country’s meat-processing capacity and “revitalise” trading rules, arguing Covid-19 has demonstrated the industry needs more competition.
Some US$500m of the Biden administration’s “Build Back Better” investment in US infrastructure will be used for new meat and poultry processing facilities.
A further $155m will be used to support existing smaller processors in the US meat industry in areas such as expanding capacity and the cost of inspection fees.
US pledges $500 mln to increase meat processing capacity
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CHICAGO: The US government will invest at least $500 million to expand beef, pork and poultry processing capacity, Agriculture Secretary Tom Vilsack said on Friday, after consumers faced limits on meat purchases during the COVID-19 pandemic last year.
The money from a $1.9 trillion pandemic relief package approved in March will be awarded to meat processors in grants and loans to make the supply chain more resilient and increase competition in the sector, Vilsack said at a news conference in Council Bluffs, Iowa.
President Joe Biden signed a sweeping executive order that pushes the US Department of Agriculture to crack down on “abusive practices of some meat processors” and promote more competition in the US economy.