09:08 GMT +306 December 2019
Listen Live
    This file photo taken on July 24, 2013 shows a logo of German pharmaceuticals and chemicals giant Bayer on an overpass at its Berlin headquarters

    Farmers Must Be Protected After Bayer-Monsanto Merger

    Get short URL

    Farmers must not be left without a choice in terms of pesticide suppliers after German pharmaceutical giant Bayer merges with US agricultural company Monsanto, EU Competition Commissioner Margrethe Vestager said on Thursday in a statement e-mailed to Sputnik.

    MOSCOW (Sputnik) — On Wednesday, Monsanto officially confirmed that Bayer would acquire the company for $66 billion, and the deal had been approved by both companies’ boards of directors. The potential merger raises deep concerns of farmers and environmentalists.

    "What is important for us is that post-merger, farmers have choice… That they are not locked with just one producer and just one set of pesticides," Vestager said.

    According to the Commissioner, the market is "quite concentrated already," and at the same time "very consolidated" in terms of companies doing research and development in order to innovate plant protection to make it more environmentally friendly.

    "It has actually somewhat diminished [over the past ten years] and you have very few global players engaged in this [new plant protection development]," the commissioner added.



    EU Commission Not Notified of Bayer-Monsanto Merger Deal Yet
    Sanders: Proposed Takeover of Monsanto by Bayer ‘Threat to All Americans’
    US Monsanto Confirms Acquisition by Germany's Bayer, Says Deal Worth $66Bln
    European Union, Monsanto, Bayer, Germany
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik