Opposition Rises to Planned Agribusiness Mega-Mergers
Alongside 200 allied organisations, CEO has signed on to an open letter to Competition Commissioner Vestager, which raises objections to the planned mergers of six giant agribusiness corporations.
In their letter to EU Competition Commissioner Margrethe Vestager, the groups representing farmers, farmworkers and beekeepers as well as religious, international development and environmental advocates warn that the three resulting companies will concentrate market power and "exacerbate the problems caused by industrial farming – with negative consequences for the public, farmers and farm workers, consumers, the environment and food security".
The European and national-level organisations – jointly representing several million members – state that the proposed mergers of Dow Chemical with DuPont, Monsanto with Bayer AG, and Syngenta with ChemChina will lead to an unacceptable monopoly that would see three companies controlling around 70% of the world's agro-chemicals and more than 60% of commercial seeds.
Read the open letter here.