As we reported earlier this year, Monsanto has been experiencing a downslide in their overall profits, despite continued growth in their key markets of herbicide and GMO seeds. Now this month the infamous company announced that it will be cutting 2,600 jobs, 12% of its workforce, in order cut costs. It was also announced that they saw a loss of 19 cents per share in the most recent quarter, and profits are expected to remain low throughout the year.
The Associated press reported that Monsanto lost $156 million in the last quarter of last year alone, and this year is expected to be even worse for them.
There are likely a number of factors involved in farmers backing away from Monsanto’s products. First of all, after many years of using these products farmers have began to discover that they are not what they were promised to be, and they many times come along with dangerous risks. Also, increased activism and awareness about Monsanto and their history has inspired a widespread boycott of the company in many areas.
Monsanto has been suffering this past year, as various areas throughout the world have been banning GMO products, and banning the cancer-causing herbicide “RoundUp.”
In a statement released earlier this year, the World Health Organization’s International Agency for Research on Cancer (IARC) announced that glyphosate, the main ingredient in Monsanto’s herbicide “RoundUp”, is “probably carcinogenic.”
The report indicated studies that “sufficiently demonstrated” that this substance caused cancer in animals. According to multiple reports, Monsanto was well aware that this chemical caused cancer for decades yet still continued to sell it.
As we have been reporting over the past several months, glyphosate is now even banned in many areas as a result of these studies.
According to Reuters, Monsanto is now dumping more than a billion dollars into a production facility that will distribute dicamba, the new chemical that will likely be replacing glyphosate.However, studies have indicated that exposure to dicamba increases the probability of lung and colon cancer.
John Vibes writes for True Activist and is an author, researcher and investigative journalist who takes a special interest in the counter culture and the drug war.
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