Agriculture News — Bayer & Corteva Will Compete for Global Soybean Market Share
Agweb is a premier Farm Journal covering all of the aspects of global agriculture markets and commodities. On 19 September 2023 the journal wrote about the competition between Bayer and Corteva for global soybean market share, since both of the companies produce market-leading herbicides and seed technology for farmers all over the world.
According to Jim Wiesemeyer, writing for Agweb:
“Together, Bayer and Corteva now control approximately 70% of the corn and soybean seed market in the U.S., a significant increase from around 40% two decades ago, according to USDA data. Both companies are vying for a share of the billions of dollars farmers spend on seed-and-chemical combinations to combat stubborn weeds.”
This is causing the two companies to go after each other through marketing channels, legal disputes and even through political efforts such as fierce lobbying campaigns.
Anyone who is following global agriculture news should know that Bayer has been wrought with a class-action lawsuit over its main herbicide product: Round-Up.
Read more about this legal case below.
For industry news junkies out there — this is one you ought to know more about if you’re not already up to date. This pertains to agriculture, petrochemicals and a variety of lawsuits over environmental and health concerns to Bayer’s consumers.
In fact, it’s so complex that I wouldn’t even know where to begin, so I hope this update on Bayer’s legal dispute is a step in the right direction to begin understanding the story.
A class action lawsuit has been filed by Bayer Healthcare LLC, a subsidiary of Bayer, claiming that its chemical supplier, Aeropres Corporation, should be held accountable for some of the legal damages resulting from Bayer’s products being found liable for causing harm to consumers via the presence of a chemical called benezene that causes cancer.
According to the lawsuit filed in Illionois federal court, Bayer Healthcare LLC is seeking $12 million in damages from Aeropres Corp.
This action revolves around a liquified gas called Propellant A-31 used for Bayer’s antifungal spray products which was recalled in 2021 due to a class action lawsuit against Bayer U.S. LLC filed by a group of consumer advocates in November 2021.
You can know the full details about this case by accessing Court Listener where you can find legal case documents and listen to court proceedings about the class action lawsuit.
The case in the United States was primarily focused on the famous weed deterrent called Roundup when an $11 billion settlement was reached between the parties in 2020 accusing parent company Bayer AG of using cancer-causing agents in the product Roundup.
It’s no wonder that the company was quick to appoint a new CEO in the aftermath of all these legal troubles. Bill Anderson officially became the new CEO in June 2023.
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