Bayer’s acquisition of Monsanto has some critics concerned that the merger would deter innovation in the agricultural sector and impact overall productivity, writes Justin Sykes on TownHall.com. Despite the doomsday predictions of a few “chicken littles” around Washington D.C., such fear mongering is misplaced and could not be further from the truth. If nothing else, the merger of these two great industry innovators would streamline innovation capabilities and increase productivity within the sector, benefiting farmers, consumers and the country as a whole.
While recent concerns have been expressed by some regarding the impacts to productivity and crop yields of a potential merger, the facts do not support such assertions. Thanks in part to advances made in part by both Monsanto and Bayer in the area of crop protection and plant biology, from 1993-2013 corn yields across the nation increased almost 60 percent. From 1978-2008 new hybrid varieties of corn for instance, led to an increase in yields over the last 30 years from 90 to nearly 150 bushels per acre with that number projected to rise to over 200 bushels per acre in the coming years.