How Is the Biden Admin’s Attack on Anti-Competitive Policies Shaping Agriculture?
The Biden administration has set its sights firmly on breaking down anti-competitive practices across a wide range of industries, and the nation’s agricultural sector is beginning to feel the effects.
According to the president, the executive orders the administration has issued are aimed at anti-competitive practices in agriculture like consolidation in chicken procession, meatpacking, sourcing inputs, and more, as well as inaccurate labeling and a lack of alternative distribution systems to support farmers.
So, will these efforts to curtail anti-competitive practices as intended? To get an expert opinion, Voice of B2B Daniel Litwin invited Curt Covington to this episode of B2B Today.
Covington is the Senior Director of Institutional Credit for AgAmerica, a leading non-bank agricultural lender in the U.S. providing debt refinancing, custom land loans and tailored lines of credit for working capital.
The duo dove into the use of already existing laws, such as the Packers and Stockyards Act, to combat anti-competitive practices, as well as reactions from sectors of agriculture being targeted by these recent efforts. For example, the North American Meat Institute said that “these proposed changes will open the floodgates for litigation that will ultimately limit livestock producers’ ability to market their livestock as they choose.”
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