MRTP verdict against Monsanto hailed

Hyderabad - Andhra Pradesh Chief Minister Y.S. Rajasekhara Reddy Thursday welcomed the verdict of Monopoly and Restrictive Trade Practices (MRTP) Commission directing Mahyco Monsanto and other companies not to charge huge amounts from the farmers.

Hyderabad - Andhra Pradesh Chief Minister Y.S. Rajasekhara Reddy Thursday welcomed the verdict of Monopoly and Restrictive Trade Practices (MRTP) Commission directing Mahyco Monsanto and other companies not to charge huge amounts from the farmers.

MRTP in its order pronounced earlier in the day, directed Mahyco Monsanto Biotech-India Ltd., Mumbai not to charge the trait value of Rs.900 for a packet of 450 grams for Bt cottonseed, during the pendency of the case.

The multinational seed company was directed to fix the reasonable trait value on par with the value being charged by the parent company in the neighbouring countries like China.

The company was directed to give effect to these orders within a month.

The state government had filed public interest litigation on behalf of the farmers alleging restrictive trade practices on the part of Mahyco Monsanto Biotech-India Ltd, Mumbai, Monsanto Company, US and their four other companies.

The state government had prayed a temporary injunction restraining the respondents from collecting Rs.1,250 per 450 grams for Bt cotton seed from the farmers (later on reduced to Rs.900).

The chief minister reiterated firm commitment of his government to ameliorate the living conditions of the farmers, and cautioned against those who work against the interests of the farmers.

'We feel it our bounden duty to protect the interests of farmers first, and take up their concern about the heavy royalty being charged by Monsanto Company for the Bt. cotton seed,' he said in a statement here Thursday night.

He said the verdict was a great respite for farmers of not just the state but of the entire country.


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