(NaturalBlaze) WASHINGTON – Over 1 million petition signatures were delivered today by farming, consumer and environmental groups to the U.S. Department of Justice calling on the department to block the proposed merger of Bayer (BAYN) and Monsanto (MON). The signatures were delivered as two new reports revealed irreversible impacts from the merger on consumers and farmers.
Tuesday, Friends of the Earth, SumOfUs and the Open Markets Institute released an analysis, “Bayer-Monsanto Merger: Big Data, Big Agriculture, Big Problems“, which explores the implications of a combined Big Data, chemical and seed platform owned by Bayer and Monsanto and how it may impact competition and farmer choice. The release of the analysis coincides with a hearing Tuesday on technology in agriculture and data-driven farming in the U.S. Senate Committee on Commerce, Science, & Transportation.
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Consumer Federation of America released a report today, “Mega-Mergers in the U.S. Seed and Agrochemical Sector the Political Economy of Tight Oligopolies on Steroids and the Squeeze on Farmers and Consumers.” The report uses the concept of a “tight oligopoly on steroids” to examine how the unique characteristics of the Bayer-Monsanto merger magnify their market power in the seed/agrochemical sector and squeeze farmers and consumers.
On Tuesday, at the National Press Club, a panel of experts discussed the findings of these reports and explored the latest research indicating irreversible impacts from the merger to consumers, farmers and competition in the face of record-low commodity prices and struggles in rural America.
“The opportunity for every farmer, every business and every entrepreneur to have a fair shot at an open and just market is the core principle that built America and its people’s prosperity,” said Joe Maxwell, executive director of Organization for Competitive Markets. “Our government’s unwillingness to enforce our anti-monopoly laws and allow these mega-mergers to go forward is threatening our very democracy.”
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“Bayer and Monsanto’s toxic mega-merger is a danger to our planet and everyone living on it,” said Erich Pica, president with Friends of the Earth. “Over 1 million Americans have called on the Department of Justice to protect our farmers and families from the consolidation of corporate power. Bayer and Monsanto’s merger is a direct threat to the future of people and our environment. The Justice Department must put on the breaks and stop this merger.”
“A merger between Bayer and Monsanto is a five-alarm threat to our food supply and to farmers around the world,” explained Angus Wong, Campaign Manager with SumOfUs. “This new mega corporation would be the world’s biggest seed maker and pesticide company, defying important antitrust protections, giving it unacceptable control over critical aspects of our food supply – undermining consumer choice and the freedom and stability of farmers worldwide.”