• Section: Money Guide - Category: Online Business
• Written by Rakesh P

BANGALORE, India (AP)

also asked Monsanto to compensate farmers who it said lost money by sowing its transgenic cotton. Monsanto disputed the claim.

Monsanto's spokeswoman in India said the company had yet to receive the federal regulator's order and wouldn't comment.

The licenses granted in March 2002 expired last month, and Monsanto applied for their renewal in six southern and central Indian states, including Andhra Pradesh.

In April, the federal regulator asked various state governments to give their comments on the performance of BT cotton over the past three years.

"The report (from Andhra Pradesh state) was not satisfactory, and hence we had to disallow the licenses," Chandra said.

St. Louis-based Monsanto's BT cotton is the only genetically modified crop allowed in India.

Monsanto sold 1.3 million packets of BT cotton in 2004, but critics say the seeds are environmentally hazardous and could contaminate the genes of native varieties through cross pollination.

However, advocates of genetic modification say it helps fight plant diseases, increases yields, and makes food crops more nutritive.

--End--

< Prev Article		Next Article >