GM crops: Government should set up an independent regulator at the earliest

Rarely does a large multinational company threaten to leave India. But that is exactly what MonsantoBSE -0.83 %, the $40-billion American seed and agrochemical behemoth, did earlier this month.

In December, the ministry of agriculture had issued an order to cap the prices of Bt cotton seeds, the genetically modified (GM) hybrid developed by Monsanto, and set up a committee for the same. But the main worry for the company was the ministry's intention to regulate the royalty or trait fee paid to Mahyco Monsanto Biotech (India), or MMB, a joint venture set up by Monsanto, by local seed companies using its technology.

MMB challenged the order in the Delhi High Court, which refused to stay it. Then came this salvo from Monsanto, the world's largest seed company, which made headlines...............Read more

Source: The Economic Times


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