America’s family farmers increasingly are out-muscled by large agribusinesses in trying to make a living, said the think tank Center for American Progress on Tuesday. It called on Congress to create an Independent Farmer Protection Bureau with offices nationwide to even the fight by enforcing …
Fundamental change in U.S. agricultural and rural policy is "an absolute necessity," said Vermont Sen. Bernie Sanders on Sunday in calling for Teddy "Roosevelt-style trust-busting laws to stop monopolization of markets and break up massive agribusinesses." In a position paper, Sanders, pursuing the Democratic nomination for president, endorsed supply management — federal control over farm production — higher minimum prices for major commodities such as grain and milk and a return to a government-owned grain reserve "to alleviate the need for government subsidies and ensure we have a food supply in case of extreme weather events."
After a week in which Sen. Elizabeth Warren, a Massachusetts Democrat who's running for president, was in the spotlight for her call to check the power of big agribusiness and "level the playing field for America's family farmers," Big Ag began to hit back, insisting her ideas are out of touch with reality.
Antitrust enforcement took center stage at Saturday’s Heartland Forum in Storm Lake, Iowa, a platform for Democratic presidential hopefuls to share their visions for rural America. Nearly all of the candidates said tackling consolidation would be part of their rural agenda, with Sens. Elizabeth Warren and Amy Klobuchar calling it a main priority. Farmers at the forum were buoyed by the candidates’ attention to an issue that is a top priority for many rural communities that have been hollowed out by the effects of economic concentration and the powerful grip of agribusiness.(No paywall)
Rep. Mark Pocan, a Wisconsin Democrat, introduced a bill yesterday that would impose a temporary moratorium on large agribusiness and food industry mergers. The bill is a companion to legislation introduced last month in the Senate by New Jersey’s Cory Booker.
Tyson, the largest U.S. meat company, will buy Keystone Foods for $2.16 billion. Keystone's prior owner, Marfrig Global Foods, announced the brand was up for sale earlier this year. The deal will face regulatory review in at least the U.S. and China.
Last week, the private equity firm High Bluff Capital Partners bought Quiznos’ parent company for an undisclosed sum. Quiznos joins the dozens of popular fast-casual chains that have been bought by private equity firms in recent years. The quickening pace of private equity buys in the food sector is bringing greater scrutiny to an opaque business model and its ramifications for companies’ workers. No paywall
Thousands of workers have been laid off and several factories shuttered since the Brazilian investment firm 3G Capital helped facilitate Kraft’s acquisition of Heinz in 2015. Now, at the end of the trademark cost-cutting cycle that follows many 3G deals, Kraft Heinz must grapple with changing consumer preferences, the Wall Street Journal reports.
As farms got bigger over the years, so did the equipment that farms use to cover the land. Farm equipment dealerships also got bigger, buying or pushing out competitors, and that may explain the problem of stagnant wages in rural areas: When there are fewer employers, wages show less growth, reports the New York Times.