FTC sues pesticide-makers for price-fixing

The FTC sued two pesticide makers Thursday for allegedly negotiating exclusive distribution deals that raised farmer prices.

Russia's invasion of Ukraine caused rising costs and supply chain disruptions, Reuters reported.

FTC: Syngenta and Corteva Inc. bribed distributors not to give farmers generic insecticides, herbicides, and fungicides.

The agency official said farmers paid 20% more for firms' products, or hundreds of millions of dollars a year.

FTC Chair Lina Khan said these companies bribed distributors to keep generic providers from the market.

Syngenta's Saswato Das said the discounts were "voluntary and industry-standard."

Syngenta disagrees with the FTC's complaint, which is contrary to facts and law, said Das. "We're disappointed the FTC didn't acknowledge rebate programs' benefits for our channel partners and producers."

Corteva spokeswoman Kris Allen dismissed the complaint.

"We'll defend Corteva's antitrust-legal customer marketing," Allen said.

10 AGs joined the FTC action.

As prices rise, farmers seek alternatives to chemical herbicides and pesticides.

This year, the USDA solicited public input on pesticide, seed, and fertilizer competition.