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Smithfield Food is on a mission to support Black and minority farmers! The company just welcomed its first family farmers to join its new contract grower program created to support Black and minority farmers as it works to diversify its hog supply chain, per news shared in a press release. Smithfield is leading the charge through a new documentary from the lens of the Martin family, contract hog farmers for the Wayne County, North Carolina-based company. The project will address long withstanding barriers like access to capital and cost of capital for Black and minority farmers and is a part of the $15 million Unity & Action commitment made by Smithfield to level the playing field in food manufacturing, agriculture and education. “Our position as a leading food company and hog producer in America is accompanied by tremendous responsibility to our many stakeholders, including our people and communities,” said Shane Smith , president and chief executive officer of Smithfield Foods in...
Here we go again. A Wisconsin federal judge has ordered a temporary stop to the $4 billion federal loan relief program created to address decades of injustice faced by Black farmers. The decision to halt the program is the response to white tears after a group of white farmers filed a legal challenge in which they claim to have been discriminated upon (the nerve, right?). Last Thursday Judge William Griesbach issued a temporary restraining order that in turn blocked the U.S. Department of Agriculture from moving forward with the relief payments. According to NBC News , Griesbach said that the white farmers are “likely to succeed on the merits of their claim,” that the USDA’s “use of race-based criteria in the administration of the program violates their right to equal protection under the law.” Black farmers like John W. Boyd say that years of work have been put into the bill just for white counterparts to try and shut it down…again. “I’ve been trying for decades to get this passed...
Justice for Black farmers! Following the $4 billion debt relief for Black farmers, The New York Times reports that banks are fighting back noting that quick repayments will cut into profits. The institutions are complaining that the government’s initiative to pay off the loans of those Black farmers who have faced decades of financial discrimination will not only hurt investors but cut into the bank’s profits. In March, Congress passed a $1.9 trillion stimulus package which includes the debt relief for the Black farmers and is intended to make things right for years of discrimination faced by all nonwhite farmers. Today, no money still has been received by those farmers. Aside from the drama with the banks, white farmers sued the U.S.D.A over the initiative claiming that they are victims of reverse discrimination. Now, three of the largest banking groups involved in the settlement have formed their own fight against the money that is rightfully owed to Black farmers. The American...
Backstage Capital is working to make farmland more accessible. FarmTogether is a technology-enabled investment platform that provides users with more access to farmland and today (May 4), they’ve announced a partnership with venture capital firm Backstage Capital with one goal in mind — increasing farmland investment properties to those who wish to utilize it. “As an asset class, U.S. farmland boasts a total value of $2.7 trillion,” said Backstage Capital’s Founder and Managing Partner, Arlan Hamilton in an exclusive press release shared with AfroTech. “Yet, only around 1% of the dollar value of all farms is financially backed or owned by funds, publicly traded companies, or high net-worth individuals. This has resulted in a highly fragmented and overlooked market.” The Backstage Capital investor community will soon have access to exclusive farmland investment properties which will capture both organizations’ shared values of not only accessibility but diversity and inclusivity too....
We must prevent the erasure of Black farmers. In 1910, Black farmers made up 14 percent of the U.S. farming population. Today they make up only 1.4 percent of the population and it’s likely that discriminatory practices within the government are the cause, reports Black Enterprise. View this post on Instagram A post shared by Justice For Black Farmers (@justiceforblackfarmers) Prior to the COVID-19 pandemic, agricultural communities throughout the country were faced with many challenges as a result of former President Donald Trump’s trade wars with China. On the other hand, these issues barely touch the surface of what Black farmers have been up against for centuries. According to the Associated Press (AP), Black farmers have less access to technical support and credit than their white counterparts which makes it harder for them to not only update equipment and purchase seed but also takes a toll on their ability to buy more land and operate their farms. Coupled with those...