A probe by the investigations unit of India's antitrust body has found that...
NEW DELHI - A probe by the investigations unit of India’s antitrust body has found that Monsanto abused its dominant position as a supplier of genetically modified cotton seeds in the country, three sources with direct knowledge of the matter told Reuters.
The Competition Commission of India in 2016 ordered the unit to carry out the probe after India’s farm ministry and some local seed companies complained that Monsanto was charging unreasonably high royalty fees for its GM technology. Mahyco Monsanto Biotech , a joint venture with India’s Mahyco, licenses a gene that produces its own pesticide to a number of local seed companies, in lieu of royalties and an upfront payment. MMB commands more than 90% of the cotton market.
“The company’s agreements with seed companies were anti-competitive,” said one of the sources aware of the probe’s results.
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