- September 30, 2021
- Posted by: Stratford Team
- Category: Business
Seed relabeling—a practice in which the same variety is sold under multiple brand names—is still common in the corn and soybean seed industry, according to a report released this morning by Farmers Business Network (FBN).
“There’s still a large percentage of companies that are selling seed that’s the same genetic profile under different [branded] products,” says Brad Roberts, FBN senior product marketing manager.
By itself, FBN officials note that relabeling is neither good nor bad. Instead, it’s the lack of price transparency that’s created that can fuel two negative outcomes, say FBN officials.
* Farmers may be overpaying for seed. Since companies sell the same variety under different brands at different prices, farmers may be paying more for seed without realizing that other brands consisting of the same variety may be priced lower.
* Farmers may end up with lack of genetic diversity. A variety sold under…