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Govt notifies maximum sale price of Bt cotton seed
10
Mar '16
The Central government has announced a maximum sale price for Bt cotton seed varieties to bring about uniformity in cotton seed prices across the country, the Agriculture Ministry said in a press release.

The price has been fixed on the basis of recommendations made by a nine-member panel set up on January 28 for this purpose by the Union Government.

The maximum sale price of Bt Cotton seed BG-I version has been fixed at Rs. 635 while for the BG-II version it is Rs. 800. The seed packets would be of 450 grams, including 120 grams refugia. The price is valid for the financial year 2016-17

Agriculture Minister Radha Mohan Singh said the nine-member committee was set up to recommend the maximum sale price of Bt cotton seeds. “After taking into consideration the seed value, licence fees, including one-time, and recurring royalty (trait value), trade margins and other taxes government declared the maximum sale price of Bt. cotton seed on Wednesday,” he said.

Singh justified the price control measure. “As there was no uniformity in pricing of Bt cotton seeds across the country, the central government has recently intervened and issued a Cotton Seed Price (Control) Order, 2015, to fix a uniform price of Bt cotton seed across the states in the country for the benefit of farmers," he said.

The Minister said that based on the representations, the department also made a reference to the Competition Commission of India for investigation of dominance of Mahyco Monsanto Biotech Ltd (MMBL) and abuse of monopoly in Bt cotton technology so as to ensure competition in the market.

MMBL has already challenged the government's price control measure in the Delhi High Court. (SH)

Fibre2Fashion News Desk – India

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