Tierra Agrotech buys Monsanto cotton seed

By gta_admin, in Comapny news National News on . Tagged width:

New Delhi: Hyderabad-based Tierra Agrotech Pvt Ltd on Friday said it acquired the branded cotton seeds business of MonsantoBSE -2.71 % Holdings. ET was the first to report about US biotechnology giant Monsanto selling off its branded Indian cotton seeds business to the company.

New Delhi: Hyderabad-based Tierra Agrotech Pvt Ltd on Friday said it acquired the branded cotton seeds business of MonsantoBSE -2.71 % Holdings. ET was the first to report about US biotechnology giant Monsanto selling off its branded Indian cotton seeds business to the company.

Tierra targets to scale up its breeding and research programme by integrating the acquired business and by strategically investing to deliver high-yielding cotton hybrids,  Tierra AgrotechBSE 3.53 % MD Suresh Atluri said.

Monsanto has faced headwinds in the cotton seeds market and threatened to exit India after New Delhi had imposed price controls. It has also faced scrutiny under India s competition laws, and is locked in a bitter dispute with a major player in the Indian seeds market, Nuziveedu Seeds, which also uses Monsanto s Bt Cotton technology.

The dispute is currently being adjudicated at the Delhi High Court, where the government has also become a party.

 

 

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