U.S. Federal Trade Commission sues pesticide makers, alleging price scheme [Reuters]
Corteva, Inc. (CTVA)
Last corteva, inc. earnings: 1/30 06:00 am
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Source: Reuters
The consumer watchdog agency was motivated to bring the case in part because rising costs and supply chain disruptions from Russia's invasion of Ukraine have put economic pressure on farmers, an agency official told Reuters. Chinese-owned Syngenta and U.S.-based Corteva Inc. (CTVA.N) paid distributors not to offer farmers generic pesticides, herbicides and fungicides after the companies' patents on six chemical ingredients expired, the FTC said. As a result, farmers have paid around 20% more, amounting to hundreds of millions of dollars a year, for the companies' products, the agency official said. "By paying off distributors to block generic producers from the market, these giants have deprived farmers of cheaper and more innovative options," said FTC Chair Lina Khan in a press release. Syngenta spokesman Saswato Das said the arrangements were customer discounts that were "part of a voluntary and industry-standard program that has been in place for decades" in the industry.
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- Corteva to Participate in the 2024 BMO Farm to Market Chemicals Conference [Yahoo! Finance]Yahoo! Finance
- Corteva to Participate in the 2024 BMO Farm to Market Chemicals ConferencePR Newswire
- Global Crop Protection Chemicals Market Review 2022-2023 with Forecasts to 2030 by Type, Form, Source, Application Technique, Crop Type and Region [Yahoo! Finance]Yahoo! Finance
- Plant Growth Regulators Market to Reach $5.41 Billion by 2031 - Exclusive Report by Meticulous Research® [Yahoo! Finance]Yahoo! Finance
- A New Tactic For The War With Weeds [Forbes]Forbes
CTVA
Earnings
- 5/1/24 - Beat
CTVA
Sec Filings
- 5/9/24 - Form 144
- 5/8/24 - Form 4
- 5/6/24 - Form 144
- CTVA's page on the SEC website