CHICAGO, July 9 (Reuters) – The U.S. Division of Agriculture mentioned on Friday it plans to speculate $500 million to broaden the nation’s meat and poultry processing capability, after the COVID-19 pandemic shut slaughterhouses final 12 months.
The cash, to come back from American Rescue Plan funds, will likely be awarded to processors in grants and loans to make the availability chain extra resilient and improve competitors within the sector, USDA Secretary Tom Vilsack mentioned in an announcement.
President Joe Biden signed a sweeping govt order to advertise extra competitors within the U.S. financial system, urging companies to crack down on anti-competitive practices in sectors from agriculture to medicine and labor.
(Reporting by Tom Polansek, Enhancing by Franklin Paul)
((Thomas.Polansek@thomsonreuters.com; https://twitter.com/tpolansek;))
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