A group representing farmers in Iowa and across the country is raising red flags about the Bayer-Monsanto merger. National Farmers Union (NFU) government relations representative Zack Clark says the deal would negatively impact farmers.
“We always feel that a lack of competition is never a good situation for farmers to be dealing with,” Clark says. “And also on the price side (of the merger), less choice, fewer products and fewer companies selling those products really risk increasing prices.”
Bayer, based in Germany, announced Wednesday it will acquire seed and pesticide firm Monsanto for $66 Billion. Clark says mergers like these can also result in the loss of off-farm jobs that many families rely on for additional income. NFU plans to oppose the Bayer-Monsanto deal in a similar way to other recent agribusiness mergers.
“We submitted testimony in a letter against the Dow-DuPont merger and we submitted information to the Senate on the Syngenta-ChemChina merger,” Clark says. The NFU is also considering getting involved in the Department of Justice lawsuit against John Deere and Precision Planting in the wake of that merger. The Senate Judiciary Committee will hold a hearing next Tuesday to discuss the impact on the recent mergers in the agriculture industry. Iowa Senator Chuck Grassley is chairman of the committee.
(Thanks Mark Dorenkamp, Brownfield Ag News)