Mahyco-Monsanto to reduce trait value of Bt cotton seeds
07 Mar '07
1 min read
NEW DELHI:
Mahyco-Monsanto, which owns the Bt cotton technology, has offered to reduce the trait value of Bt cotton seeds, but Andhra Pradesh has decided to continue its legal battle against Monsanto over the issue, State Agriculture Minister N Raghuveera Reddy, said.
"They have sent feelers for an out-of-court settlement. But, we will continue our fight both in the Monopolies and Restrictive Trade Practices Commission (MRTPC) and in Supreme Court," he said.
A case was filed against Monsanto in MRTPC by the State Government against high trait value being charged for Bt cotton seeds.
The judgment given in favour of the Government, asked Monsanto to reduce trait value to Rs750 for a packet of seeds from Rs1,900.
Supreme Court too has refused to stay the MRTPC order of May, 2006 directing the US-based MNC to reduce its price up to level of China.
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