Excerpt from: CREDO Action
If you thought Monsanto was bad, this could be even worse: Chinese chemical giant ChemChina has begun a $43 billion merger with Swiss-based seed and pesticide company Syngenta to create one of the largest chemical and GMO seed companies in the world.
This proposed merger could have huge ramifications in the U.S. and across the entire global food system, where only six companies now control 75 percent of the world’s seed and agricultural chemical business.1 Further consolidation would put our food production system in the hands of even fewer multinational corporations, with the potential of unchecked use of more toxic chemicals and GMOs in our food supply.
A bipartisan group of members of Congress is calling on the Obama administration to more aggressively scrutinize the merger, with the potential of stopping it from moving forward.2 We must act now to pressure the Obama administration to stop this dangerous merger before it’s too late.
The Committee on Foreign Investment in the U.S., which is made up of 16 separate agencies from across the Treasury, Homeland Security, and Defense Departments, is preparing to review this proposed mega-merger for potential risks to national security. A group of lawmakers has voiced their concerns that the U.S. Department of Agriculture and the Food and Drug Administration have been left out of the oversight process. It makes little sense to exclude from this vital investigation these agencies tasked with overseeing our food system.
The slow, yet persistent takeover of the U.S. food system presents a huge risk to food security and food safety, as many Chinese food companies are government-owned and operate with fewer safety guidelines than American companies. Just in 2014, a Chinese company bought the world’s largest pork producer, Smithfield Farms, in a massive $4.7 billion deal – the largest acquisition by a Chinese company of a U.S. corporation in history. The ChemChina-Syngenta merger is a further consolidation of the corporate stranglehold on our food chain.3
The risks to the American food system are far too great, and that’s why the Obama administration must do whatever it can to prevent this merger from going through and threatening our fragile food system any further.
Tell President Obama: Stop the ChemChina-Syngenta merger.
- The petition to President Obama reads:
“The unprecedented merger of ChemChina and Syngenta will put much of American and global food production in the hands of a single major multinational corporation. Block this proposed merger and protect our food system.”
- Go to the link below to sign the petition:
Thanks for all you do.
Josh Nelson, Campaign Manager
CREDO Action from Working Assets
“Sino-Genta?” ETC Group, February 4, 2016
Jacob Bunge, Lawmakers Raise Concerns About ChemChina’s Purchase of Syngenta,” Wall Street Journal, March 23, 2016.
“Who’s behind the Chinese takeover of world’s biggest pork producer?” PBS Newshour, September 12, 2014.
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