New reports reveal devastating impacts on consumers and farmers.
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.
Today, 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.
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.
Today, 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.