Genetically Modified Crops Giant Monsanto faces anti-trust litigation
For 14 years, agri-giant Monsanto has led the market they essentially created for genetically-modified seeds. The whole genetically modified crops issue is volatile and, as part of unusual anti-trust litigation, critics from farmers to politicians will be able to voice their opinions in public meetings held by the U.S. Justice Department. The first of these is Friday, March 20 in Iowa with feature speaker Attorney General Eric Holder.
In January, the U.S. Justice Department began antitrust investigations on Monsanto’s genetically modified, herbicide-immune soybean. The plant is grown throughout the U.S. and represents about 90% of domestically grown soybeans. Since genetically modified crops are patented, Monsanto profits either from licensing or pricing on almost every soybean grown in the U.S.
The situation has raised the ire of many farmers and seed companies. In their view, Monsanto is limiting competition. For some environmentalists, the issue is the potential harmful effect genetically modified crops can have on animal life as well as other crops.
Whether the critics are farmers, politicians, activists, or competitors, they will be able to air their complaints what the Justice Department’s antitrust division is calling ‘workshops’ held jointly with the Department of Agriculture.