NJ Senator takes on ‘Foodopoly’

NJ Senator takes on ‘Foodopoly’

On Wednesday, U.S. Senator Cory Booker (D-NJ) introduced bill S-3404 “The Food and Agribusiness Merger Moratorium and Antitrust Review Act of 2018.” This bill would enact an 18 month merger moratorium on national agribusiness, grocery, and food/beverage manufacturing and establish a federal commission to study ways to strengthen antitrust oversight. According to Booker, consolidation of chemical and seed companies within the past two years have allowed just three companies to control two-thirds of the crop seed and 70% of chemical agricultural markets. The proposed law provides a chance to update antitrust laws and an opportunity for U.S. farmers and ranchers to compete in fair and open markets. You can read more about the bill here from Montclair Patch: US Senator Takes On “Foodopoly”, Wants To Halt Big Agro Mergers