Monsanto suffers big losses amid global slump

By Daily Maverick Legacy 8 October 2009

To many, US agrochemical giant Monsanto is the devil personified. Movies like “Michael Clayton” ( the company was Monsanto) or documentaries about evil seed companies that have US farmers and others around the world in a heavy grip perpetuate the perception. Many a conspiracy theory has been woven around Monsanto’s policies and the secrecy of their experiments. Well, the omnipotent citadel of evil is losing money, and lot of it, $233 million in the fourth quarter, mostly because of lower demand for herbicides. And, of course, Monsanto reacted by cutting 900 jobs in its herbicide unit.

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