By Crystal Donaldson
BLOOMINGTON – The U.S. Justice Department recently approved German drugs and pesticides company Bayer’s bid to acquire the world’s largest seed company, Monsanto.
Bloomington corn and soybean farmer, Bart Bittner, said the consolidation of two of the largest ag companies is concerning.
“There’s a lot of technology that’s going to be driven under one roof,” Bittner said. “They can really drive the market in a direction they want to drive it, easier than they could if there was more competition.”
Bittner said he’s concerned less competition could mean higher prices.
“Potentially there are going to be some products out there that they may pull off the market because they don’t benefit them as well as other products do,” Bittner said. “Now that they don’t have a competitor that’s driving it, to keep pushing them, they may go with one that’s better for them that may not necessarily be better for us.”
Bittner said he’s not the only one that feels this way. The concern is felt mutually among local farmers.
The proposed merger has been in the works for years, with regulators forcing the companies to sell off some of their properties to avoid a monopoly.
Crystal Donaldson can be reached at [email protected].
