Monsanto Co, the world’s biggest seed company, threatened to pull out of India on Friday if the government imposed a big cut in royalties that local firms pay for its genetically modified cotton seeds.
Mahyco Monsanto Biotech (India)(MMB), a joint venture with India’s Mahyco, licenses a gene that produces its own pesticide to a number of local seed companies in lieu of royalties and an upfront payment.
MMB also markets the seeds directly, though the local licensees together command 90% of the market.
Acting on complaints of local seeds companies that MMB was charging high fees, the farm ministry last year formed a committee to look into the matter.
The committee has now recommended about a 70% cut in royalty, or trait fee, that the seed companies pay to MMB, government sources said. The farm ministry is yet to take a decision on the committee’s recommendation. Full story...
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Mahyco Monsanto Biotech (India)(MMB), a joint venture with India’s Mahyco, licenses a gene that produces its own pesticide to a number of local seed companies in lieu of royalties and an upfront payment.
MMB also markets the seeds directly, though the local licensees together command 90% of the market.
Acting on complaints of local seeds companies that MMB was charging high fees, the farm ministry last year formed a committee to look into the matter.
The committee has now recommended about a 70% cut in royalty, or trait fee, that the seed companies pay to MMB, government sources said. The farm ministry is yet to take a decision on the committee’s recommendation. Full story...
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