Corteva Agrees to $35 Million Pesticide Monopoly Settlement

Corteva Inc. reached a $35 million settlement with the Federal Trade Commission and a coalition of state attorneys general to resolve allegations that its loyalty programs violated monopoly laws. The lawsuit claimed the company paid distributors to restrict the sale of cheaper generic and rival pesticides, a practice that stifled competition and allowed Corteva to maintain inflated prices for farmers.

The settlement involves a coalition of states including California, Colorado, Illinois, Indiana, Iowa, Minnesota, Nebraska, Oregon, Tennessee, Texas, Washington, and Wisconsin. Iowa is expected to receive approximately $2.4 million from the agreement. This legal resolution is distinct from an $85 million class-action settlement reached in July involving more than 100,000 farmers.

Iowa Attorney General Brenna Bird stated that higher input prices for farmers lead to higher grocery store prices for consumers. While the claims against Corteva are now resolved, a related lawsuit against Syngenta remains ongoing without a scheduled trial date.