DuPont and Dow Chemical have gained US antitrust approval according to a court filing in the US last week. It is a similar deal to the one they struck with European regulators back in March with a number of assets and certain crop protection products being sold of by both companies. The decision was not met with approval from farm leaders.
According to the filing in U.S. District Court for the District of Columbia, the assets to be sold include DuPont’s Finesse herbicide for winter wheat and Rynaxypyr insecticides, which the Justice Department said had U.S. annual sales of more than $100 million.
Condemning the move as a continuance of failed national economic policy, National Farmers Union President Roger Johnson released the following statement: “Clearly, the Trump Administration is content allowing our country’s consolidation complex to continue. This is deeply disappointing, as it is this consolidation complex that has allowed for money and power to be drained from family farm operations and rural communities. What’s resulted is lost jobs, lowered wages, inflated costs, decreased economic opportunity, depleted resources and services, depopulation, and an inability for those that remain in rural America to decide their economic future.
“The combination of Dow and DuPont, coupled with other pending mergers, leaves family farmers with less competition and choice in the seed and agrichemical sectors. This drives up costs for farmers’ inputs, and it reduces the incentive for the remaining agricultural input giants to compete and innovate through research and development.
“Dow and DuPont produce essential, high quality seeds and products that farmers need. While we condemn the administration’s decision to allow the merger, we set our sights on ensuring the resulting seed and biotech firm keeps the promises made by Dow and DuPont to American family farmers and ranchers. This includes delivering localized solutions in seed and crop chemical innovation, increasing the productivity of American farmers and, most importantly, ensuring their profitability.”