Bayer is signaling it has had enough of litigation, leaving the future of a crop protection tool in limbo.
Executives tell the Wall Street Journal they are nearing the end of the road for glyphosate, the main ingredient in RoundUp. CEO Bill Anderson says they are barely breaking even, and litigation costs often put them in the red.
More than 65,000 cases are pending against Bayer right now, and the company has around $16 billion set aside for settlements.
Anderson stands by glyphosate, saying it has been proven safe to use, even by the FDA. Bayer produces roughly 40 percent of the supply used by U.S. farmers.
Related Stories
USDA Under Secretary Richard Fordyce says the department stands ready to provide technical assistance with the Farm Bill if Congress requests it.
Surging energy markets are quickly becoming a cost story for U.S. agriculture as crude oil climbs on supply fears tied to the Middle East conflict.
Strike risk adds volatility to already tight markets.
Fertilizer investigation may impact input costs and margins.
The American Coalition for Ethanol reacts as the Farm Bill heads to a full House vote — while ethanol expansion, including year-round E15, is left out — as well as the USDA’s pursuit of global markets for ethanol.
Big oils-and-fats volumes can support crush demand, but fuel markets can quickly tighten supplies.
