- Smithfield CEO Larry Pope spoke before the Senate Agriculture Committee Wednesday, defending the company's proposed $4.7 billion sale to Chinese meat producer Shuanghui International.
- "This is a wonderful opportunity for the U.S. to do what it does best: produce agriculture products and ship them around the world," Pope said at the hearing.
- Referring to the deal as " an opportunity for U.S. pork producers to grow," though senators expressed skepticism that the deal could result in unsafe Chinese products entering the U.S. food supply.
From the article:
... Pope said the transaction would not lead to food imports from China. Instead, he said, it would open up the market for U.S. pork farmers by giving them more access to Shuanghui's large distribution system and millions of meat-hungry consumers in China, South Korea, Japan and other Asian countries. ...