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Agriculture ministry retains Bt cotton seeds MSP
17 Mar '17
1 min read
The agriculture ministry will retain the maximum sale price (MSP) for Bt cotton seeds for crop year 2017-18. It will also maintain the status quo on the trait value. The retail price and royalty fee for genetically modified cotton variety were reduced in the last crop season to Rs 800 per 450g packet of seeds, including a royalty fee of Rs 49 per packet.
The ministry has recently issued a notification informing about cotton seed MSP, according to media reports.
A committee constituted by the agriculture ministry had recommended reducing cotton seed prices from earlier rates of Rs 830-Rs 1,000 to Rs 800 per packet last year. The royalty fee was also slashed sharply by 74 per cent from Rs 163 to Rs 43 per packet, before taxes. This move had benefitted over 8 million farmers. (KD)
Fibre2Fashion News Desk – India
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