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The conditions attached to the approval for the Viterra-Bunge merger announced this week weren’t enough to assuage concerns from those on the prairies.
On Tuesday, Transport Canada approved the merger between Viterra and Bunge that the two companies had embarked on back in 2023.
The green light was given despite a report released early last year from the University of Saskatchewan, which found the merger would harm producers, found “worrisome” levels of market concentration on grain export services at the port of Vancouver, B.C., the canola crushing sector, and competition at primary elevators.
Despite that, the approval wasn’t exactly a surprise for Bill Prybylski, president of the Agricultural Producers Association of Saskatchewan (APAS).
Speaking on the Evan Bray Show Wednesday morning, Prybylski said he believed it was what would happen all along, however, he was glad the federal government took measures to address some of the concerns that were expressed.
Listen to the full interview here:
“Whether the actions that they’ve taken are going to completely address those concerns, we’re not totally convinced that they are, but at least there’s the idea that they recognize that there are those concerns and they’ve implemented some measures to hopefully mitigate that,” said Prybylski.
Among the conditions are requirements for Bunge to divest six grain elevators in western Canada, for Bunge to invest at least $520 million in Canada in the next five years and for the Viterra head office to remain in Regina for at least five years.
Some of the suggestions APAS put forward around the merger were part of the conditions, according to Prybylski, like divesting of some assets.
“That’s kind of our biggest concern, is that whole aspect around competition and – with this merger going ahead – the reduction in competition and what that’s going to mean to producers,” he explained.
But some of the concerns weren’t addressed, like Bunge’s stake in G3, a Manitoba grain company.
“I don’t know that our concerns are completely addressed on that front, we would have maybe liked to see some more significant rules put into place for that,” said Prybylski.
Kelvin Heppner, farmer and agriculture journalist with RealAgriculture, also spoke on the Evan Bray Show on Wednesday and said there are concerns about the canola crush plant Viterra announced in the Regina area in 2021.
Listen to the full interview here:
“There is no mention of a requirement that they follow through on construction there and there’s major concern that by combining (the companies) it takes away some of the incentives for construction of that crush plant, which would certainly be great for jobs and also for demand for domestic value-add to canola production in western Canada,” said Heppner.
The Sask. NDP also pointed to the canola crush plant in its criticism of the deal.
Leader and Agriculture and Rural Affairs critic Carla Beck said the merger puts the project at risk, along with head office, agriculture and value-added jobs.
“The federal and provincial governments should not have rolled over and let this anti-competitive merger go through. They should have stood up for Saskatchewan, instead of selling it out,” Beck said in a statement.
In a statement from the Government of Saskatchewan, it said, “It is critical for Canadian producers, Viterra and Bunge to have certainty on this acquisition ahead of the 2025 crop year. In that respect, the Government of Saskatchewan appreciates the timing of the final ruling from the federal government. ”
“Our priority is ensuring Saskatchewan producers continue to be competitive with access to key global markets.”
The government said it is evaluating the over 20 terms and conditions attached to the federal government ruling to prevent any negative impacts on competition in Canada’s grain and oilseed sector.