New Delhi: Hyderabad-based Tierra Agrotech Pvt Ltd on Friday said it acquired the branded cotton seeds business of Monsanto 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 Agrotech 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.
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 Agrotech 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.