India cuts Monsanto's GM cotton seed royalty, may trigger another row

India Cuts Monsanto's GM Cottonseed Royalty by 24% May Trigger Another Row

That apart, the royalty fee or trait value payable by domestic seed firms to technology developer Monsanto Mahyco Biotech (India) Ltd (MMBL) has been slashed to Rs 39 per packet from Rs 49.

The 2016 move was criticised by multinational seed company, including Monsanto, which had moved Delhi High Court challenging the order.

India's government has officially cut royalties that local seed companies pay to Monsanto (MON +0.5%) for the second time in two years, confirming a report last week, potentially sparking another dispute with the company that threatened to leave India in 2016.

"In exercise of the powers conferred by sub-clause (1) of clause 5 of the Cotton Seed Price (Control) Order, 2015, the central government, after consultation with the committee referred to in sub-clause (2) of the said clause to recommend the maximum sale price of cotton seed, hereby declares the maximum sale price of Bt Cotton seed packets for the financial year 2018-19 for the whole of India", said a note issued by the Ministry of Agriculture. The move triggered a long-running dispute between the Indian and USA governments.

The official added that cotton has been a success story for Indian agriculture, with a sharp jump in both output and exports, but the sector needs a predictable business environment to attract investment.

Proposed Eastern Ohio Petrochemical Plant Adds South Korean Partner
He said this development would create thousands of construction jobs and hundreds of permanent positions for our state. In the last month, Minor said PTTGC bought the nearby 300-acre site owned by the Ohio-West Virginia Excavating Co.

The government also trims the prices of genetically modified cotton seeds by 7.5% to 740 rupees ($11.39) for a packet of 450 grams to help farmers who are struggling with pest infestations; more than 90% of India's cotton crop is genetically modified.

"The new, low price would definitely impact seed supply and seed availability this year".

The move will benefit 8 million cotton growers, but will reduce the margin of domestic seed companies and also MMBL. In one crop season, 50 million cotton seed packets are usually sold. "NSAI may even file a writ petition against the government decision", Kalyan Goswami, director general of NSAI, told Reuters.

According to Goswami, seed prices have fallen since 2011 while fuel, labor and other supply chain costs have risen. "But the idea was ignored", he said. Last year, prices were kept unchanged.

India approved the genetically modified Bt cotton technology for commercial cultivation in 2002.

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