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Mega-mergers will squeeze farmers, push up food prices, experts warn
October 17, 2017
If the world's major agriculture companies go ahead with planned mergers and gain greater control of the way food is produced, farmers will face higher costs and food will eventually become more expensive to buy, a panel of experts said on Friday.
Since 2015, several high-profile deals have come onto the table including a $130 billion merger between U.S. agrochemical giants Dow and DuPont, Bayer's buyout of Monsanto, ChemChina's acquisition of Syngenta and its planned merger with Sinochem.
"We are now in unchartered territory. If the deals on the table go ahead, three firms will control more than 60 percent of global seed and pesticide markets," said Pat Mooney, lead author of a report launched by the International Panel of Experts on Sustainable Food Systems (IPES-Food).