NFU: Monsanto Decision to Withdraw Bid to Purchase Syngenta “Good for Family Farmers and Competitive Markets A like”
FOR IMMEDIATE RELEASE
August 26, 2015
Contact: Andrew Jerome, 202-314-3106
NFU: Monsanto Decision to Withdraw Bid to Purchase Syngenta “Good for Family Farmers and Competitive Markets Alike”
WASHINGTON (August 26, 2015) – National Farmers Union (NFU) President Roger Johnson said the organization was very pleased by the news that Monsanto has withdrawn its bid to buy Syngenta.
“American agriculture is already far too concentrated, leaving family farmers and ranchers at a great disadvantage in the market place,” said Johnson. “This is clearly not only good news for family farmers, but for economically competitive markets as well."
The NFU Board of Directors had passed a resolution earlier this year opposing the potential merger between the two agriculture giants, which would create an enormous company that would combine the nation’s top seed company with the nation’s largest pesticide company.
“The merger would have not only damaged family farmers and ranchers by permitting greater concentration in agriculture, but would have further disadvantaged farmers as crop prices drop and costs of inputs have continued to rise,” said Johnson.
NFU has a proud history, stretching over a century, of working to ensure that farmers and ranchers are not marginalized in the marketplace. “Economic concentration, then and today, disadvantages producers,” said Johnson. “When six seed companies control the sector, producers lack meaningful choices and frequently face non-competitive, higher costs as a direct consequence. Today’s announcement ensures that further concentration did not occur in this case, but we remain far from the truly competitive markets that benefit producers and consumers,” he said.
National Farmers Union has been working since 1902 to protect and enhance the economic well-being and quality of life for family farmers, ranchers and rural communities through advocating grassroots-driven policy positions adopted by its membership.