Indian Cotton Price Hike

Indian Cotton Price Hike

SHARE

The price of Bt cotton seed will rise by Rs 50 per packet of seeds in the coming season. The rise is due to the climbing costs of production. This demand was made by the National Seed Association of India (NSAI) ahead of the government’s annual review meeting with industry representatives, which will be held on March 6.

“Inflation, rising wages as well as increase in minimum support price (MSP) of cotton have increased seed production costs massively in the last one year,” a leading daily quoted a top official of NSAI as saying in a representation made to the ministry of agriculture.

Currently, BT cotton seeds are marketed at Rs 751 per pack of 450 gm, which NSAI said was inadequate to meet manufacturing costs.