The federal government empowers an oligopoly

The Globe & Mail

On January 14, the Honourable Anita Anand, Minister of Transport and Internal Trade, announced the Government of Canada approval of the acquisition of Viterra Limited by global agri-business Bunge Global SA. Through this action the federal government has ignored the critical concerns of several organizations, including farm groups from across the country, underscoring the continued concentration in the grains sector.

The Canadian Anti-Monopoly Project released this statement on hearing of the merger approval:

“The government’s approval of the Bunge-Viterra takeover is a loss for grain farmers that depend on competitive markets to get a fair deal for the fruits of their labour,” said Keldon Bester, Executive Director of CAMP. “The need to place firewalls around Bunge’s ownership of G3 makes it clear that the transaction creates an ongoing conflict of interest at the expense of Canada’s grain farmers. The approval of Bunge-Viterra continues the march of consolidation at all levels of Canada’s food system that has left producers and shoppers with fewer options and less competition in an environment of steadily rising prices.”