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Posted On: 04/17/2024 9:39:32 PM
Post# of 148899
https://centerforahumaneeconomy.org/2024/03/1...s-eats-act
“In 2013, the Shuanghui Group, better known as the WH Group, purchased the Virginia-based Smithfield Foods for $4.72 billion. It was, at the time, the largest-ever Chinese acquisition of an American company. It also made the WH Group one of America’s largest landowners, with 146,000 acres of our homeland.
Today, Smithfield Foods controls more than a quarter of U.S. pig production. No major sector of American agriculture has anything approaching this level of Chinese-government control. Add in the 14% market share for the Brazil-based JBS and you’ll see that two foreign companies control two-fifths of U.S. pig production. The cattle, poultry, and egg industries have just a fraction of that foreign control.”
“In 2013, the Shuanghui Group, better known as the WH Group, purchased the Virginia-based Smithfield Foods for $4.72 billion. It was, at the time, the largest-ever Chinese acquisition of an American company. It also made the WH Group one of America’s largest landowners, with 146,000 acres of our homeland.
Today, Smithfield Foods controls more than a quarter of U.S. pig production. No major sector of American agriculture has anything approaching this level of Chinese-government control. Add in the 14% market share for the Brazil-based JBS and you’ll see that two foreign companies control two-fifths of U.S. pig production. The cattle, poultry, and egg industries have just a fraction of that foreign control.”
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