Monsanto is part of a federal antitrust investigation of the seed industry, reports the New York Times, which notes that corn seed prices have gone up 135 percent since 2001 and, in the same period, soybean prices climbed 108 percent. Monsanto's Lee Quarles tells the Times that the increases are due to the inclusion of more resistance genes that save farmers money. In addition to the Justice Department's interest, the Times adds that Iowa's attorney general is also keeping an eye on the company's market dominance, and that Monsanto and its rival DuPont have sparred in court. Monsanto says that DuPont made a gene combination that was not allowed by its licensing agreement and DuPont says that Monsanto is limiting competition and innovation — a judge has ruled that the agreement prevents DuPont from creating that combination, but also has allowed DuPont to go forward with its antitrust claim.
An Interest in Seeds
Mar 15, 2010