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Monsanto sees hybrid corn, vegetable seed market in India
Aug. 25, 2014
Monsanto sees great opportunities in the hybrid corn and vegetable seed market of India as it looks to help farmers to increase productivity in sustainable ways.
The company also feels that there is a possibility of Bt brinjal, which is grown in Bangladesh, illegally finding its way to West Bengal owing to its higher yield and lower cost of production.
Except for Bt cotton, India has banned genetically modified (GM) crops and the government recently halted field trials, including that for brinjal and rice.
The company, which also produces non-GM seeds, believes that Indian farmers can double their yields using such conventionally generated varieties.
"We see great opportunity in our conventional business of corn. India has on an average 2.5 tonnes per hectare of corn and if you think of the potential India has, we believe there is an opportunity to more than double yields. This will have a gigantic impact for farmers and also the community," said Jesus Madrazo, vice-president, corporate engagement for Monsanto.
He said the company was also actively working in the vegetable business. "We have been growing our business and there is a huge opportunity, considering that people love vegetables and there is increasing consumption," he said, adding that as value chains develop in the country, farmers will find it remunerative to produce sustainable and better quality vegetables. The company which has a presence in oilseeds such as canola is also exploring the pulses seed market.
Monsanto has a market share of 3-4% in the Indian cotton seed market, 15-20% in corn and 10-15% in vegetables.
Madrazo said that in India there was enough space and market to continue investing in research and development for the needs of Indian farmers.
"In India, we have evolved our company as a solution-based company. Now, we are in a path to integrate all those solutions to really be able to help the farmer-customer produce more with less natural resources and less inputs," he said. With Bangladesh allowing commercial planting of genetically modified (GM) Bt brinjal, Madrazo said that there was a "solid" possibility of illegal entry of the seeds into India.
"Agriculture has zero frontiers. We have seen in other parts of the world, when farmers have access in one country to innovation and technology, compared to the neighbouring country we see technology finding its ways. This happened earlier in Brazil, which used to illegally import GM soyabean from Argentina," he said. Madrazo added, "We know that's a possibility. Of course, we will be concerned. Here, we can work together to ensure that farmer is able to get access in the right way."
Maharashtra Hybrid Seeds Company (Mahyco), which developed the Bt brinjal technology, has transferred it to the Bangladesh Agricultural Research Institute (BARI). Mahyco, 26% owned by Monsanto, is hoping that the BJP government will expedite the release of Bt brinjal in India.
Source: The Economic Times
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