WASHINGTON, D.C. — In a post this week on the White House website, the Biden Administration lays out a plan for what it said is a concentration in the meat-processing industry.
"The President understands that families have been facing higher prices at the grocery store recently," the post said. "Half of those recent increases are from meat prices—specifically, beef, pork, and poultry. While factors like increased consumer demand have played a role, the price increases are also driven by a lack of competition at a key bottleneck point in the meat supply chain: meat-processing. Just four large conglomerates control the majority of the market for each of these three products, and the data show that these companies have been raising prices while generating record profits during the pandemic. That’s why the Biden-Harris Administration is taking bold action to enforce the antitrust laws, boost competition in meat-processing, and push back on pandemic profiteering that is hurting consumers, farmers, and ranchers across the country."
The post includes a breakdown of issues it said the Biden Administration and Department of Agriculture are going to focus on, including:
- Taking strong actions to crack down on illegal price fixing, enforce antitrust laws and bring more transparency to the meat-processing industry.
- Providing relief to small businesses and workers hurt by COVID-19, and creating a more competitive food supply chain.
- Getting ahead of climate change related disruptions by supporting farmers and ranchers from the effects of extreme weather.
- Working with Congress to make cattle markets more transparent and fairer.