Monsanto slips 6% as ministry of agriculture readies to notify Bt cotton prices

NEW DELHI: Shares of Monsanto India slipped as much as 6 per cent in Wednesday’s trade after reports emerged that the Ministry of Agriculture may notify the rate along with a pan-India ceiling price of BT cotton seeds of Rs 800, down from Rs 830-1,100.

Reacting to the development, the scrip fell 5.93 per cent to hit a low of Rs 1,540.50 on the BSE.

The company is against any regulation of the genetically modified seed prices in the country and has threatened to pull out its GMO technology out of India.

Over 7 million farmers use the company’s genetically-modified seeds.