The Hindu Business Line : Monsanto offers to cut trait value of Bt cotton

Mahyco-Monsanto, which owns the Bt cotton technology, has offered to reduce the trait value by Rs 350, according to Mr N. Raghuveera Reddy, the State Minister for Agriculture and Civil Supplies.

Addressing a press conference here on Tuesday, he said the company had sent a letter to the State Government in this regard.

The State had recently moved the MRTPC (Monopolies and Restrictive Trade Practices Commission) challenging the high trait value (Rs 1,250) being charged by Monsanto on each packet (450 gm) of cottonseed for using its technology.

It contested that the price was unreasonable and that the company didn't charge that much amount anywhere in the world. Even as arguments and counterarguments continued at the Commission, the company sent a proposal to the Government.

Asked whether the reduction offered was agreeable for the Government, the Minister answered in the negative.

"It is not at all agreeable for us. I spoke to the Chief Minister. Even he asked me not to relent at this stage," he said.

He, however, evaded a question on what would be `agreeable price'.

Seeing the softening of the stand by the company, the Minister had directed the officials to engage in talks with the company.

"It will take its own course. We will stick to our stand," he said.

He asserted that the Government was not against Bt but it would like to safeguard the interests of the farming community.

More Stories on : Announcements | Cotton | Bio-tech & Genetics | Andhra Pradesh

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