Concentration in corporate power is the defining feature of today's global economy, with profound implications for livelihoods, well-being, the environment and human rights. ETC Group has long monitored the "Gene Giants" (who aggregate control over seeds, agrochemicals, pharmaceuticals, biotechnology, genomics and food processing and retailing). Today many of the same large corporations are touting the use of new technologies - including genomics, nanotechnology and synthetic biology - to transform biomass into high-value products or to manufacture materials "from the bottom up." They are moving from being - 'gene giants' to 'biomass-ters' or even 'matter moguls.'
For immediate release: March 20, 2018
Brussels – The European Union’s Competition Directorate appears ready to roll over and approve the controversial merger of Bayer AG (Germany) with Monsanto (USA) within the week. Across the Atlantic, the US Department of Justice is expected to welcome the EU decision and announce its own acquiescence shortly after.
If the Bayer-Monsanto merger is allowed to go through, the resulting company will have a monopoly stake in microbials and big-data enabled precision agriculture technologies, both important new markets for industrial agriculture.
Microbials:
We are told that it is big agribusiness, with its flashy techno-fixes and financial clout, that will save the world from widespread hunger and malnutrition and help food systems weather the impacts of climate change. However, a new report from ETC Group shows that in fact, it is a diverse network of small-scale producers, dubbed the Peasant Food Web, that feeds 70% of the world, including the most hungry and marginalized people.
(Read the news release about the report launch.)
Who Will Feed Us, now in its third edition, compares the industrial food system with peasant farming. Industrial farming gets all the attention (and most of the land). It accounts for more than 80% of the fossil fuel emissions and uses over 70% of the water supply used in agriculture, but it actually produces only about 30% of the world's food.
Wednesday’s confirmation that Monsanto and Bayer have agreed to a $66 billion merger is just the latest of four M&A announcements, but at least three more game-changing mergers are in play (and flying under the radar). The acquisition activity is no longer just about seeds and pesticides but about global control of agricultural inputs and world food security. Anti-competition regulators should block these mergers everywhere, and particularly in the emerging markets of the Global South, as the new mega companies will greatly expand their power and outcompete national enterprises. Fou
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