European Commission Approves $34 Billion Merger Between Bunge and Viterra

The European Commission has given its green light to the $34 billion merger between Bunge Global S.A. and Viterra Limited, according to Reuters. This decision marks a significant step towards forming one of the globe’s largest agriculture trading firms.

Per Reuters, the approval is granted under the EU Merger Regulation but comes with conditions. The Commission’s statement emphasized that the approval is contingent upon the companies meeting all stipulated commitments.

The merger, first announced a year ago, aims to enhance competitiveness against major industry players such as Archer-Daniels-Midland and Cargill. This strategic move is expected to reshape the global agriculture trading landscape, positioning the newly combined entity as a formidable competitor in the sector.

Source: Reuters

The agricultural landscape is also in the midst of a transformation led by artificial intelligence.

“If you look at the current situation that we’re in with agriculture today, especially in the U.S., labor is the number one challenge across the board. Whether you’re a farmer or you’re a business in the supply chain, you have serious labor problems where you don’t have enough people. The exciting part of AI is that these tools can help fill certain roles in the business that are growing increasingly hard to find or fill,” Jake Joraanstad, CEO at Bushel, told PYMNTS for the “AI Effect” series. 

By automating tasks and enhancing efficiency, AI can alleviate the labor challenges facing agribusinesses, many of which are exacerbated by the rural nature of the industry — making attracting talent from urban centers a tall ask. 

“If you zoom out, agriculture is a supply-demand problem,” said Joraanstad, noting that AI’s ability to aid in farmer decision-making is another area where it can have a significant impact.