CAMP Welcomes Competition Bureau Opposition to Bunge-Viterra, Calls on Minister of Transport to Protect Canadian Farmers

April 24, 2024 – This week the Competition Bureau released its report on the proposed $8.2 billion takeover of Viterra by Bunge, finding that the transaction would worsen competition in the markets for grain purchasing in Western Canada and canola oil in Eastern Canada. Bunge and Viterra are two agribusiness giants with operations across Canada and across the globe, with Bunge owning 25% of G3 Global Holdings, another important player in Canada’s grain market. Farmers across Canada depend on competition between these companies to get the best price for their products and to access domestic and international markets. The Bureau’s analysis found that the merger would remove a vigorous competitor from the market and take $19 million annually out of the pockets of Canadian farmers.

But Canada is just one piece of the global implications of Bunge-Viterra, and the deal is a threat to farmers around the world. Today the global grain trade is dominated by just a handful of corporations and further concentration will only entrench that dominance, increasing pressure against vulnerable farmers.

Similar to mergers in the Canadian banking sector, where a merger involves transportation markets the Minister of Transport has the final call on the proposed transaction.

“The Bureau’s analysis confirms the simple fact that less competition means fewer choices and worse outcomes for Canadian farmers,” said Keldon Bester, Executive Director of the Canadian Anti-Monopoly Project. “Bunge-Viterra represents another step towards harmful consolidation not just in Canada, but in global agricultural markets as well. In blocking this deal Minister Rodriguez has an opportunity stand up for Canadian farmers and we encourage him to take it.”