National Farmers Union President Roger Johnson issued the following statement in response to the decision by the Committee on Foreign Investment in the United States (CFIUS) to allow the sale of Smithfield Foods to a Chinese interest:
“Today’s ruling by CFIUS on the proposed acquisition of Smithfield Foods by Shuanghui Intl. is a disappointment for family farmers and ranchers across the United States. The deal represents the sale of one quarter of U.S. hog processing to a quasi-state-owned Chinese enterprise and is a dangerous precedent, in terms of food security and market competition.
“We continue to urge Congress, the administration, and other decision-makers to oppose this sale. Our domestic livestock markets are already largely non-competitive and foreign-backed control will only make the situation worse.”