Friday, September 30, 2022

U.S. accuses Corteva and Syngenta

The United States Federal Trade Commission has sued Syngenta and Corteva for pressuring retailers to refrain from offering generic pesticides.

The government said they set up exclusive contracts with distributors that kept pesticide costs for farmers about 20 per cent higher.

I guess it's what the companies call customer service.

Chinese-owned Syngenta and U.S.-based Corteva Inc. paid distributors not to offer farmers generic pesticides, herbicides and fungicides after the companies' patents on six chemical ingredients expired, the Federal Trade Commission said in the lawsuit.

"By paying off distributors to block generic producers from the market, these giants have deprived farmers of cheaper and more innovative options," said FTC chair Lina Khan in a press release.

Corteva spokesperson Kris Allen told Reuters news agency in an email that the company believes the complaint has no basis.

"We will vigorously defend our position that Corteva’s customer marketing programs are fully compliant with the antitrust laws," Allen said.

Reuters said Syngenta did not immediately respond to a request for comment.