Biden Announces Aid to Small Meat Producers to Curb Inflation
The White House announced on Monday $ 1 billion to help independent meat producers in the United States with the aim of fostering competition to reduce control of the market by large producers and curb the rise in prices.
President Joe Biden’s decision comes amid the growing pressures his government faces due to the high inflation that the country is experiencing, which closed in November at a year-on-year rate of 6.8%, the highest in four decades.
“We’ve seen too many industries go to be dominated by a handful of big companies that control most of the businesses and most of the opportunities – raising prices and reducing options for families, while squeezing the small ones. companies and entrepreneurs, “ the White House said in a statement.
Biden will hold a virtual meeting this Monday with independent producers and farmers to discuss options in this regard.
Among the announced measures are 275 million in aid to independent producers to access “long-term affordable capital”; 100 million for employee training; and an additional 100 million to reduce the costs of inspections in small processing plants.
The White House indicated that the four largest meat processing companies in the country control 85% of beef; 57% of the poultry; and 70% of the swine.
The large producers, however, say that the rise in prices responds to increased demand from consumers and the rising costs associated with problems in the global supply chain and the shortage of workers caused by the COVID-19 pandemic. 19.