OLYMPIA, WA (MyBellinghamNow.com) – Farmers could see lower pesticide prices as a result of legal action by the state.
The Washington State Attorney General’s Office and the FTC says they’ve reached a settlement with pesticide manufacturing giant Corteva Inc.
Washington was among several states that sued Corteva in 2022 over a loyalty program that they claim paid distributers to limit their sales of cheaper products to farmers.
Washington State Attorney General Nick Brown says Corteva violated monopoly laws by using the scheme to keep its prices high without fear of competition.
“This will promote a level playing field in the market where Washington farmers have more choices and ultimately lower costs,” Brown said in a news release. “And it means Washingtonians won’t have to pay more for the sake of corporate greed.”
The proposed settlement requires Corteva to pay Washington and 11 other states $35 million. It also forces the company to end its existing loyalty program that incentives distributers to buy its products over competitors for the next 10 years.
A spokesperson for Corteva said in an email to My Bellingham Now “we’re pleased to reach a resolution in the FTC matter and continue to focus on our business, our customers and our work: delivering groundbreaking innovation and agronomic support to retailers and farmers around the world.”
The state’s complaint makes similar claims against another large pesticide manufacturer called Syngenta, which are ongoing.
