The National Farmers Union (NFU) is welcoming a new USDA and Federal Trade Commission (FTC) inquiry into competition concerns in the agricultural equipment market. NFU President Rob Larew said farmers have been raising concerns about consolidation and limited competition for many years and said the investigation could help ensure that existing antitrust laws are enforced.
Many of the concerns stem from the concentration of power among a small number of equipment manufacturers, and Larew said that affects farmers in several ways.
While the inquiry is still in its early stages, Larew said history indicates that there is precedent for federal action when farmers document concerns and bring them to attention.
For now, the USDA and the FTC are collecting feedback from farmers. Larew said participating in the comment process, which closes December 7th, is very important.
For more information, visit nfu.org.
