A new antitrust suit against seed makers and sellers sheds light on how Big Ag controls the crop input market to preference their products.
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Agribusiness wants to dramatically change the way farmers value and pay for a bag of corn seed, to get a second bite at producer profits. Bayer, the world’s leading seed manufacturer, has been piloting an “outcome-based” pricing program that adjusts the cost of its seeds or agrichemicals based on how well its products perform. Farmers and antitrust scholars worry that goliaths such as Bayer will use this data-driven pricing program to further squeeze farmers and to lock more growers into the behemoths’ product bundles and digital agriculture platforms.
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Canada’s Competition Bureau is looking into an allegation that agribusiness giants Bayer, Corteva, BASF, Cargill, and others tried to crush an online ag retailing startup, the California-based Farmers Business Network (FBN), according to court filings reviewed by The Wall Street Journal.
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Last Saturday, Elizabeth Warren, Amy Klobuchar, and other Democratic Party presidential hopefuls gathered in Storm Lake, Iowa at the Heartland Forum to present their platforms for revitalizing rural communities. Preceding the forum, a coalition of farming groups held a rally nearby calling for a moratorium on large agricultural mergers and a Farmers Bill of Rights.
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On Thursday, Bayer closed its $62.5 billion purchase of Monsanto. This comes roughly a week after the Department of Justice (DOJ) approved the merger, on the condition that the corporations sell off $9 billion worth of assets, including seed divisions, intellectual property, research projects, and more. Yet even after these divestitures, the combined entity will be the largest global seed and agrochemical corporation, and U.S. based field crop growers fear the power of the new combine.
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In the fall of 2016, the German drug, seed, and crop chemicals conglomerate Bayer announced plans to merge with the U.S. chemical and bio-tech seed giant Monsanto. Hoping to overcome objections from European anti-trust regulators, Bayer is promising to sell off its vegetable seed business to BASF, a German corporation that is currently the largest chemical maker in the world.
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The National Black Farmers Association (NBFA) last week said it plans to bring an injunction against Bayer to stop the German corporation’s $66 billion acquisition of Monsanto. The announcement comes as farmers and antitrust advocates across the country organize against the looming merger of the two agrochemical giants, which they say would have dire consequences for both conventional and organic farmers.
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Days before entering office, President Donald Trump held a meeting with executives from agrochemical giants Bayer and Monsanto. The companies sought Trump’s blessing for their $66 billion merger, promising to create thousands of jobs if the merger is approved. But the companies’ track records, as well as evidence from past mergers, suggest the deal would likely result in a net job loss.
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In a September 20 hearing on Capitol Hill, executives from Monsanto, Bayer, Syngenta, Dow and DuPont defended their plans to merge into three giant agrochemical companies. Under questioning by Senators on the Judiciary Committee, they emphasized that the deals would increase their companies’ ability to “innovate” and to develop better seeds and agricultural chemicals.
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Bayer’s $62 billion offer to buy Monsanto is the latest in a series of proposed mega-mergers in the seed and agrochemical sectors, following ChemChina’s planned takeover of Syngenta and Dow’s merger with DuPont. These deals have raised fears of higher prices, reduced crop biodiversity, and even greater obstacles to innovation in these industries.
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Bayer's announcement that it intends to buy Monsanto, the world's largest seed producer, shocked farmers and consumers alike. The deal could have a profound -- and negative -- effect.
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