Monsanto Inc distances itself from Bt wrangle issue
08 Mar '06
1 min read
A legal dispute between Mahyco Monsanto Biotech India Ltd and Andhra Pradesh government over high prices for Bollgard Technology (BT) improved genetically modified cotton seeds is underway.
The US-biotech major Monsanto Inc has asked Monopolies & Restrictive Trade Practices Commission (MRTPC) for removing its name from the dispute that is going on as the Government has not sought any relief from it and it was neither involved in licensing nor price fixing.
Mahyco Monsanto informed the commission that company had brought down the price from Rs 1250 to Rs 900 for 450 grams of seed.
The company said, the farmers pay a higher price for BT seeds yet he is able to earn much more than the output he gets using conventional seeds.
Mahyco Monsanto said that it did not set out any price below which the seeds could not be sold moreover earning profit is not an offence under MRTPC Act.
The Andhra Pradesh government had asked the commission to investigate against the multinational including its Indian subsidiary Mahyco Monsanto and its distributors - Maharashtra Hybrid Seeds Ltd, Rasi Seeds Pvt Ltd, Nuziveedu seeds Ltd and Pro Agro Seed Co Pvt Ltd, for charging excess value.
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