YORKTON – The Government of Canada's approval of the acquisition of Viterra Limited by global agri-business Bunge Global SA is seeing opposition from the Sask NDP.
Aleana Young, MLA for Regina Â鶹ÊÓƵ Albert and NDP Critic for Jobs and Economy, has voiced strong opposition to the merger, highlighting its potential negative impact on Saskatchewan's agricultural sector.
Young warned that the merger could result in a $780 million annual loss for farmers and create a near-monopoly at the Vancouver port, a critical hub for Saskatchewan's agricultural exports, citing a that quotes a roughly $700-million cost to Saskatchewan's economy every year from the deal.
"Reducing competition in the market and creating a monopoly at the port in Vancouver is hugely important to everyone in the agricultural supply chain," said Young in an interview with Â鶹ÊÓƵ.ca
Young was in the city Jan. 31 for a Chamber of Commerce meeting and a tour of Grain Millers.
"We're hearing from producers across Saskatchewan that this merger will take a significant amount of money out of farmers' pockets every single year," said Young who called on the provincial government to oppose the merger, describing it as anti-competitive and disproportionately harmful to Saskatchewan farmers.
"For an economy like Saskatchewan's that is so dependent on agriculture, the lack of response from the provincial government is alarming," said Young, adding, "we're calling on the provincial government to stand against this merger and protect our farmers."
Young also highlighted the uncertainty surrounding U.S. tariffs under President Trump, emphasizing the need for provincial action to safeguard Saskatchewan's agriculture-dependent economy.
"We don't know if these tariffs will impact agriculture, manufacturing, oil and gas or potash," said Young.
According to a release from Transport Canada, to address the concerns about the merger, the government has included extensive terms and conditions in the approval. These measures are intended to prevent negative impacts on competition in Saskatchewan's grain and oilseed sector, ensuring that farmers continue to receive fair prices for their produce and have a range of competitive options for selling their crops.
Key conditions include Bunge’s commitment to divest six grain elevators in Western Canada, strict controls on Bunge's minority ownership stake in G3, a price protection program for canola oil purchasers in Central and Atlantic Canada, and a commitment to retain Viterra’s head office in Regina for at least five years to protect local jobs. Bunge has also pledged to invest at least $520 million in Canada over the next five years to promote economic growth and job creation.
A full list of the terms and conditions is available on the e.
