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White House continues push to break up market manipulators

The White House says it’s taking steps to crack down on anti-competitive behavior and promote competition in the agriculture industry.

Economic advisor David Kamin tells Brownfield supply chain issues are a cause for skyrocketing input costs. “Part of helping to address the kinds of costs farmers face is about making sure we have a strong infrastructure, make sure the products can get to market (and) that the kind of inputs can get to them at low cost.”

He says Russia’s invasion into Ukraine has made the situation worse. “Even before the conflict, fertilizer costs were high. The Department of Agriculture has been focused on creating options for farmers and we will continue to do that.”

He says the administration is backing a recent fertilizer market study initiated by Iowa’s Attorney General. “We strongly support to make sure there is an understanding of the forces behind the increases in fertilizer costs.  And, we want to be clear, no company out there be it fertilizer companies or any others should be taking unfair advantage of the conflict to drive up their margin.”

And, Kamin says, the White House continues to focus on concentration in the meat packing industry. “And, making sure that we’re investigation and addressing any kind of abuse of market position in that industry.”

He says they’re addressing concerns in the shipping industry, too.