As we continue
to close the gap globally between consumers with the use of the internet. We
can see how a change, an issue, or strategy imposed by a company can not only effect
its current market but can also disrupt markets in other countries.
As of September
4, 2019, Bayer AG the owner of the product Roundup has decided to gradually
restrict the use of glyphosate, the main ingredient in Roundup, and ban it
outright as of the end of 2023. This announcement may affect multiple lawsuit
that are currently being held around the world. This change can show that the chemical
may not be as safe as it was originally thought to be.
Another
major effect this is causing is to the European market. With this announcement
this helps the EU solidify its action to oppose another bloc-wide license that
is set for renewal in 2022 by the company Bayer to use glyphosate in their
products in the EU. With Bayer banning the use in 2023 their market in the EU
will dissolve.
This not
only affects the EU but also brings the attention to other countries such as
the U.S. and South America. These countries are the two major consumers of this
product and this can affect the agricultural market in those countries. This
may even bring up concerns of consumer health not only by being exposed to the
chemical directly, but also residual contact from produce or other agricultural
products that may be sold to the consumer.
As we can
see the global market is very intertwine and there can be many cause and
effects of a single decision. As the global gap decreases companies may need to
focus more on their marketing strategies and understand better what their
markets needs and or requirements are.
By: Ruth
Bender - Updated Sept. 4, 2019 1:03 pm ET
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