Biotech giant Monsanto reported multiple profit-plummets in 2015 relating to sales for both its genetically modified crop creations and its best-selling herbicide, Roundup. Once again, Monsanto has reported declining profits for the fiscal second-quarter earnings – by 25%.
For Monsanto’s 2nd quarter, total sales for Monsanto dropped 13%; with one of Monsanto’s top-sellers, corn seeds, falling 11%. The biotech giant cites an “unfavorable agricultural market” for its losses, pointing out that:
- Pressures in overseas markets is increasing
- Farmers are reporting less income due to less-than-ideal harvests
- The strength of the U.S. dollar made products more expensive
But the company makes little or no mention of the other key factors affecting its bottom line.
- Organic food demand is exploding like crazy – and the figures show no sign of it slowing any time soon.
- The world is seeing how toxic pesticides and herbicides really are.
- Record farmers are switching to non-GMO crops.
- Monsanto is one of the most hated companies in the world.
While the company is admittedly still seeing profits in the billions, the continuous decline paints a bleak picture for the agricultural giant. It means that the massive grassroots movement against Big Biotech giants such as Monsanto is working, and that our collective voice is being more than heard.
With awareness growing on the potential dangers of GMOs and the very real negative impact pesticides and herbicides have on human health and the environment, why wouldn’t anyone go against such an unsustainable, harmful business?
Earlier this year, Monsanto announced that sales in the company’s agricultural productivity segment, which includes its best-selling Roundup herbicide, fell 34% to $820 million for the quarter ending November 30. Monsanto also revealed that it plans to cut more of their work force – a total of 3600 jobs, which accounts for 16% of its global employee base. The biotech giant will also record $1.1 billion to $1.2 billion in ‘restructuring’ costs.
Amid the falling profits, the mega-corp not only lied to consumers about the safety of GM seed and their best-selling herbicide, but also lied to investors! The company was to pay an $80 million settlement to the US Securities and Exchange Commission (SEC) as a penalty for lying about earnings for glyphosate-riddled herbicide, Round Up.
Also in 2016, it was announced that plans to construct a $90 million GM corn processing plant in Independence, Iowa would be scrapped due to a ‘struggling farm economy.’ [1]
The company’s recently-failed attempt to takeover Syngenta has also left them in a weaker position amid a steep downturn in the agricultural business.
“We no longer see large-scale M&A as a likely opportunity,” Mr. Grant told investors on a conference call after reporting fiscal second-quarter earnings that fell short of analysts’ expectations. “Our strategy is not and was not dependent on large-scale M&A.”
With organic food sales having approached $37 billion annually, up 12% from just a year ago, and farmers switching to organic crops at a growing rate, the future of food actually has a nice glow to it. The masses are seeing just how toxic our current approach to agriculture can really be, and we simply do not want it anymore.
Monsanto’s time seems to be slowly and steadily plateauing, and it’s all thanks to you.
