Tuesday, 31 March 2020

BT Cotton Price Unchanged


Central Govt keeps BT cotton rate Unchanged  

GM cotton seed rate
cotton
The Central Government of India has kept the maximum sale price of Genetically Modified(GM) Bt cotton seed for 2020-2021 at Rs 730 per packet which is 450 grams. But the Center has abolished royalties
paid to US company Monsanto on seed packets of Bt cotton. Hi, welcome to Vantika Tech Agri Update. You were aware of the Monsanto, acquired by Bayer at USD 63-billion in June 2018, expressed deep disappointment over the abolition of royalty. And there will be no trait value or royalty on it. The rate in the current fiscal policy is Rs 730 including Rs 20 a trait value that will go to Bayer.

The maximum selling price of this seed BG-I Bt has been kept at Rs. 635 without any change. Explain that according to the Cotton Price Control Order, 2015, the government fixes the price of cotton seed every year. During for current year's time, keeping in mind the trait value and trade margin, etc., the central government decides the maximum selling price of the seed.

Earlier this month the Union Agriculture and Farmers Welfare Minister Narendra Singh Tomar had informed in parliament that the government can abolish the Bt Cotton Trait Value so that Indian farmers can get Bt cotton seeds at an affordable price.

Bayer is disappointing to see the full elimination of trait fees and they will collaborate with other technology providers to maintain an affordable level of trait fees. Also, the royalty fee is essential to maintain longevity and investing in future technology. 

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