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State ag groups want AG to investigate proposed Bayer-Monsanto merger
Madison Iszler is reporting in the Times Union agriculture groups in New York are urging Attorney General Eric Schneiderman to investigate the anticipated Bayer-Monsanto merger, saying it would hurt farmers and the state's agriculture industry. The German chemical company Bayer is planning to take over seed and weed-killer giant Monsanto in a $66 billion deal that would create one of the world's largest agriculture conglomerates. The acquisition will likely be completed early next year. The groups say the merger would decrease competition in the seed and agrochemical markets, further concentrate power in an already consolidated market and raise seed prices for farmers while simultaneously limiting their seed choices. They also worry that lack of competition would reduce innovation. "We have to realize that this is going to change the face of agriculture," said Liz Bawden, president of the Northeast Organic Dairy Producers Alliance. "Innovation is going to be stagnated from this ... It's a very scary road to go down." Further consolidation of power is also detrimental to family-owned farms, which make up a big portion of New York's farms, Bawden said. The group also warned the merger could result in higher prices and fewer options at the grocery store for consumers. Read the full story in the Times Union.