| Log in
Photo Credit: Reuters

Monsanto to sell cotton seed brand to Tierra Agrotech

08 September, 2017

Monsanto Co will sell its small branded cotton seed business to local firm Tierra Agrotech Private Ltd, but remains fully committed to India’s agriculture sector, a Monsanto India spokesman said on Friday.

The sale comes as Monsanto fights a former licensee in India in a bitter dispute that has drawn in both the Indian and U.S. governments, while it is also the subject of a $66 billion takeover by Germany’s Bayer.

Monsanto, the world’s biggest seed producer, said its Mahyco Monsanto Biotech (India) (MMB), a joint venture with India’s Mahyco, will continue to sell genetically modified cotton seeds under license to more than 40 Indian seed companies.

However, its Monsanto Holdings Private unit, an MMB licensee which sells the company’s Bollgard I and Bollgard II seeds, will exit cotton and sell its branded seed to Tierra Agrotech.

“Given the strategic choices, we have signed an agreement with Tierra Agrotech Private Ltd to pursue the sale of the branded cotton seed business, which will be effective subsequent to the necessary approvals,” Monsanto said in a statement.

Monsanto Holdings had only a small share of India’s cotton seed market and focuses largely on vegetable seeds such as beans, broccoli, cabbage, and cauliflower, the spokesman said.

He declined to comment on the sale price.

Tierra Agrotech officials were not immediately available for comment.

Cotton output has jumped fourfold since India allowed MMB’s genetically modified variety in 2002, transforming the country into the world’s top producer and second-largest exporter of the fibre. MMB’s lab-grown seeds yield nearly all of the cotton produced in India.

Like this report? Sign up for our daily newsletter to get our top reports.


Leave Your Comment
Exclusive: Blackstone-backed Nuziveedu Seeds plans to refile for IPO

Exclusive: Blackstone-backed Nuziveedu Seeds plans to refile for IPO

Ranjani R 1 year ago
Hyderabad-based Nuziveedu Seeds Ltd, which did not keep its date with its proposed initial public offering (IPO), is looking to refile documents with the capital...
CCI orders anti-trust probe against Monsanto arm

CCI orders anti-trust probe against Monsanto arm

PTI 2 years ago
Finding prima-facie violation of competition law, fair trade regulator CCI has ordered a detailed probe into alleged abuse of dominance by an Indian arm of...
Bayer's $62 bn buyout bid for Monsanto triggers open offer rally in Indian listed arm

Bayer’s $62 bn buyout bid for Monsanto triggers open offer rally in Indian listed arm

Anuradha Verma 1 year ago
German pharmaceutical and chemicals giant Bayer AG has made a $62 billion offer to buy US-based seed conglomerate Monsanto Co, in one of the largest...
No Comments

Monsanto to sell cotton seed brand to Tierra Agrotech

Powered by WordPress.com VIP