Long a major customer of U.S. farmers, China on [Aug. 22] took another step toward being a major supplier, as a key U.S. merger authority cleared China National Chemical Corp.’s planned takeover of Syngenta AG , a top seller of crop seeds and pesticides. Syngenta is a Swiss company, but about one-quarter of its sales come from North America.
. . . . Syngenta’s sale to ChemChina, a Chinese state-owned enterprise, has provoked both fears and hopes across the U.S. Farm Belt.
Some farmers are optimistic that the deal will force China to take a more direct interest in the fortunes of U.S. farmers. But others remain wary . . . and some U.S. lawmakers have warned the deal could pose new food-security concerns.
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When it comes to winning Chinese regulatory approval to import genetically engineered crops. . . Syngenta’s seeds could get fast-tracked while competing products from U.S. companies like Monsanto Co. and DuPont Co. are stymied [said Roger Johnson, president of the National Farmers Union]. That could force farmers to choose between the latest Syngenta seeds and rivals’ less-competitive versions, he said.
The GLP aggregated and excerpted this blog/article to reflect the diversity of news, opinion and analysis. Wall Street Journal subscribers can read full, original post: U.S. Farmers See Possible Benefits in Syngenta Deal
