Farmers warn Canada's approval of U.S. grain trader Bunge's $34-billion takeover of Glencore-backed Viterra will reduce their options to sell crops at competitive prices, and say the government did not require enough concessions.

Bunge Global SA, one of the world’s largest crop traders, received approval from Canada for its $8 billion acquisition of Viterra Inc.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyAs E-Bikes Boom in NYC,

The National Farmers Union denounced the approval of the Bunge-Viterra merger in a statement released on Jan. 17. The NFU said the multi-billion dollar deal “effectively ends competition in Canada’s agricultural commodity sector,

OTTAWA, ONTARIO, CANADA — Grain Growers of Canada (GGC) said the approval of Bunge Global SA’s acquisition of Viterra does not go far enough to protect market competition for Canadian farmers and it is “extremely disappointed” by the decision announced Jan. 14 by Minister of Transport Anita Anand.

The conditions and terms attached to the federal approval of Bunge Ltd.’s US$8.2-billion acquisition of Viterra Ltd. are “woefully inadequate” to address the profound impact on the market, Grain Growers of Canada’s executive director says.

Canada's government said late Tuesday it approved Bunge's (NYSE:BG) proposed acquisition of Glencore-backed (OTCPK:GLCNF) (OTCPK:GLNCY) Viterra after the companies agreed to concessions to address antitrust concerns.

Canada on Tuesday approved with conditions U.S. grains merchant Bunge's $34 billion merger with Glencore-backed Viterra, clearing one of the final remaining obstacles for a global agriculture tie-up that is unprecedented in dollar value.

Bunge Limited’s BG pending merger with Viterra has been approved by the government of Canada. The approval, however, comes with terms and conditions to protect competition, encourage investment and secure economic benefits for Canada.