The Bayer-Monsanto merger announced Wednesday, September 14, 2016 prompted Bob Young, AFBF’s chief economist, to point out in a statement that although market forces led to deals of this type, “major-company mergers have a profound impact on the tools available to farmers and ranchers, sometimes to their detriment.”
Young continued, “This deal between Monsanto and Bayer comes close on the heels of the proposed Dow-DuPont merger. Farm Bureau believes the Department of Justice should undertake a close review of the overall business climate that has encouraged these combinations, rather than evaluating them in isolation. Consumers must continue to have fair access to the best technologies and innovation.
“Farmers and ranchers, in particular, are interested in how these deals will impact research and development budgets for companies like Bayer and Monsanto. We depend on access to enhanced technology, and would hate to see agricultural innovation suffer at the cost of business decisions.”