Monsanto settles GM cotton dispute| MENAFN.COM

Friday, 28 January 2022 06:29 GMT

Monsanto settles GM cotton dispute


(MENAFN) Ajeet Seeds, Kaveri Seed Co Ltd and Ankur Seeds were among six Indian companies that delayed payments to Monsanto, demanding a cut in royalties they paid to the US firm to licence its technology.

"The arbitration proceedings with each of these (three) companies have concluded by way of consent orders which record the mutually discussed and accepted settlement terms," Shilpa Divekar Nirula, CEO of Monsanto India, wrote in a letter to India's farm minister last month.

A ministry spokesman said he was not aware of the letter.

The dispute sparked a series of government actions that prompted the world's biggest seed company

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