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The US will help small farmers with $ 1 billion to curb inflation

The president of the United States, Joe Biden, announced this Monday 1 billion dollars in aid for independent meat producers in the United States, with the aim of reducing control of the market by large producers and curbing the rise in prices. Biden’s decision was made known given 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.

Bin Laden denounced that the meat market in the United States is “distorted by a lack of competition”, since only four large conglomerates control 85% of the beef market; 57% of the poultry; and 70% of the swine, according to the White House. Those four giants are Tyson Foods, Cargill, National Beef Packing Company and JBS, the latter two controlled by Brazilian entrepreneurs.

What does the aid consist of?

The grants include:

  • 275 million in aid to independent producers to access “long-term affordable capital.”
  • 100 million for employee training.
  • 100 million more to reduce the costs of inspections in small processing plants.

Large producers, meanwhile, ensure 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.