Indian Farm Minister Says Govt Will Keep Regulating Seed Prices

  • Commodities Analysis

The country's Agriculture Minister on Monday said India will keep regulating seed prices and slammed Monsanto (NYSE: MON ) by accused the company of exploiting Indian farmers.

Narendra Modi government's hostility towards US giant Monsanto is unlikely to abate soon. The country's Agriculture Minister on Monday said India will keep regulating seed prices and slammed Monsanto by alleging that the company is exploiting Indian farmers.

"Companies like Monsanto should not exploit farmers just because they have technology," Reuters quoted Radha Mohan Singh, Agriculture Minister, speaking on the sidelines of a conference. "Be it seeds or pharmaceutical companies we should see to it that there is no monopoly," he added.

To end Monsanto's monopoly in India, the Modi government has asked the Central Institute for Cotton Research(CICR) to develop local genetically modified cotton seed variety. Monsanto's Bt cotton is the only GM crop that has the permission for commercial cultivation.

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