MMB cries foul over govt order on Bt cotton seed price control

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New Delhi | Published: March 12, 2016 12:59:36 AM

Following the agriculture ministry's recent move to cap maximum sale price (MSP) for widely-used Bollgarh II (BG II) variety of Bt cotton...

Following the agriculture ministry’s recent move to cap maximum sale price (MSP) for widely-used Bollgarh II (BG II) variety of Bt cotton seeds at Rs800 per packet, Mahyco Monsanto Biotech Private (MMB) a joint venture between US based agri biotech major Monsanto and Maharashtra-based Mahyco, on Friday said that such regulation goes against government’s stated objective to promote innovation and ease of doing business.

“We continue to believe that such regulation is contrary to the government’s own policies for promotion of innovation and ease of doing business in India, fundamental to which is providing for sanctity of private bilateral contracts and recognising Intellectual Property Rights,” a Mahyco Monsanto Biotech spokesperson told FE.

As per the agriculture ministry notification, the MSP for Bt cotton seeds price of R800 per packet also includes a trait fee of R49 per packet, down 70% from the current level.

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