Hybrid seed prices cut by 10 per cent for 2017-18 kharif season

NEW DELHI: The seed industry on Friday decided to cut retail prices of hybrid seeds by 10% from June 19 for the ensuing 2017-18 kharif season.

The decision, which applies to all hybrid seeds except cotton that is already regulated, was taken at a meeting called by agriculture minister Radha Mohan Singh, where he motivated the industry to curtail prices of hybrid seed in larger interest of farmers.

“I appreciate the seed industry for making collective decision in favour of farmers by reducing hybrid seeds MRP by 10%,” Singh tweeted.

According to government officials, hybrid seeds account for Rs 6,000 crore, or one-third, of the Rs 18,000 crore seed market in the country.

Seed companies said they would ensure farmers get the benefit from Monday.

“There is a distress among farmers due to low profitability in agriculture,” said M Prabhakar Rao, president of National Seed Association. “Industry after consultation has agreed to make arrangements for sale of hybrid seeds, except cotton which are already regulated at prices 10% below MRP as printed on seed packet effective from June 19,” he said.

The hybrid seed market of vegetables and cereals is showing good growth in the country, according to industry. Apart from vegetables, hybrid seeds of maize, paddy, pearl millet and cotton have great demand.

In the past, the agriculture minister has said that it is imperative to develop hybrid seeds of improved variety for the areas of varied agricultural climate so as to sort out the problems emerging due to global climate change.