FOR IMMEDIATE RELEASE
June 15, 2017
Contact: Hannah Packman, 202-554-1600
WASHINGTON – Perpetuating the disturbing consolidation trend in the agriculture sector, the U.S. Department of Justice today approved the $142 billion merger of Dow Chemical Co. and DuPont Co. The deal will create the largest agriculture biotechnology and seed firm in the United States.
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.”
To download an audio file of Roger Johnson’s statement, visit our website at nfu.org/audio.
National Farmers Union has been working since 1902 to protect and enhance the economic well-being and quality of life for family farmers, ranchers and rural communities through advocating grassroots-driven policy positions adopted by its membership.