IBP CEO and Chairman, Bob Peterson, speaking at the South Dakota Governors Conference. The United States has seen many years of a free enterprise, democratic society that has led to the most efficient and productive agricultural system in the world. One key element in the rapid growth and technological change of the last century has been the presence of intense competition. Good things happen when people are motivated to improve. People listen intently, sensing consumers wants and needs.
Efficiency is improved.
Costs are reduced. Both producers and consumers benefit. Producers in most areas of agriculture feel helpless. They are not only being denied a fair price for their output, but they are also being exploited by some of the same corporations on their input costs for food production. This lack of competition is destroying the very base of wealth creation.