The Union Government notified maximum sale price of Bt cotton seed for 2016-17. The government for the first time has taken a decision in the favour of Farmers. The notification was released as per the Cotton Seed Price (Control) Order, 2015 that was issued under the Section 3 of the Essential Commodities Act, 1955.
The new price fixation
- The price ofBG-I version of Bt cotton hybrid (9450 grams of Bt Cotton plus 120 grams refugia) was fixed at 635 rupees
- The price ofBG-II version was fixed at 800 rupees
Flash points
- Previously the price fixation was done by MNC’s like Monsanto
- They ensured the availability of the seeds but the price was too heavy for the marginal farmers to afford
- Hence the government decided to fix the price on its own to safeguard the interests of Marginal farmers
- A nine member committee was set up to recommend the maximum sale price after taking into consideration the seed value, licence fees including one-time and recurring royalty (trait value), trade margins and other taxes
- Last season the price ranged between 830-1300
- With the new price fixation the price is likely to reduce by 70%
Points to note
- Agriculture Minister- Radha Mohan Singh
- Mahyco Monsanto Biotech India ltd CEO– Shilpa Divekar Nirula
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