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US Farmers unsettled by prospect of Bayer-Monsanto merger

US Farmers have been unsettled by the prospect of a Bayer-Monsanto merger.



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What effect will a Bayer-Monsanto merger have on US #farming?

Monsanto turned down a $62 billion (£42bn) cash offer in May but Bayer says it remains “confident” it can do a deal.

 

The result would be the world’s largest seed and farm chemical company controlling nearly 30 per cent of the global pesticides market, creating concerns that a reduction in farmer’s choice and buying power would lead to higher prices.

 

It could mean 83 per cent of U.S. corn seed sales and 70 per cent of the global pesticide market are under the control of just three companies, Bayer-Monsanto, Dow-DuPont and ChemChina-Syngenta.

 

In May, the National Farmers Union in the United States (NFUUS), the American Antitrust Institute and the Food and Water Watch sent a letter to the U.S Department of Justice Antitrust division to challenge the proposed merger of Dow and DuPont. In the letter they urged the DOJ to critically review the implications of the deal.

 

The NFUUS says previous mergers have changed the landscape for independent crop input companies and producers concluding the proposed Dow-DuPont merger ’would be difficult, if not impossible, to remedy.’

 

Roger Johnson, NFUUS president, said: "Seed costs are the highest input expense for farmers. While some of the cost can be attributed to more sophisticated technology, we have seen time and again that consolidation and market restructuring has increased the cost of crop inputs.

 

"In a lagging farm economy with multi-year trends of low commodity prices, additional cost increases for crop inputs could cripple a lot of family farms in this country."


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Bayer makes $62 billion offer for Monsanto Bayer makes $62 billion offer for Monsanto
Bayer raises Monsanto offer to $65 billion Bayer raises Monsanto offer to $65 billion
Monsanto abandons Syngenta takeover attempt Monsanto abandons Syngenta takeover attempt

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