In a move that will allow more financing to help assist Black farmers, the National Minority Supplier Development Council (NMSDC) has secured a $220,000 grant from retail giant Walmart.
The large business advocacy group reports that the funding will allow the NMSDC to help improve the program and support a second cohort of Black farmers.
A McKinsey & Company report showed that only 1.4 percent of farmers identify as Black or mixed race compared with about 14 percent a century ago. Moreover, Black farmers represent less than 0.5 percent of total U.S. farm sales. And maybe more alarming, these farmers operate at 70 percent of U.S. peer-level farm revenue.
Read the source article at blackenterprise.com