‘More competition versus less’ – that was the debate Tuesday in the Senate Judiciary Committee as officials of merging agrochemical giants and farm leaders argued over the benefits and costs of a rapidly consolidating seed and ag chemical industry.
There were plenty of opinions on creating three mega-companies, controlling 80-percent of the U.S. corn seed market and 70-percent of global pesticides including DuPont Ag executive vice-president James Collins.
But American Farm Bureau senior economist Bob Young expressed caution over consolidating six giant agriculture suppliers into three, as farm revenues crash.
The American Antitrust Institute’s Diana Moss warned the new mergers could “fundamentally restructure” the markets for traits, seeds and chemicals, possibly harming farmers, consumers and innovators…
During the hearing, the National Farmers Union asked for more oversight on what NFU President Roger Johnson called “failing antitrust enforcement” in Agriculture. Groups such as the National Corn Growers Association and the American Soybean Association indicated a desire to preserve competition, but add the mergers could allow for more agriculture biotech research.
