Monsanto is losing millions on failed GM cotton. The company illegally pushed a
form of Bt cotton into India and Africa more than a decade ago, but
farmers are now pushing back by planting their own indigenous seed.Monsanto is accused of writing laws and then
breaking them to enter the market in India, but after more than 300,000 farmer
deaths between 1995 and 2013, many of them attributed to Monsanto, the company is finally paying for their misdeeds. The corporation's greed is linked to farmer suicides throughout Maharashtra, considered the 'Cotton Belt' in India.
The Indian government is now actively promoting the use of indigenous seed, and has
called Monsanto out for profiteering illegally on Bt cotton seed.Monsanto has already lost nearly $75 million in royalties this year (5 billion rupees) due to the change in seed choice by farmers. Sales in India have fallen by
15 percent, and though this is a relatively small market share, it is still making a huge impact on the company's bottom line.
This could be the end of Monsanto, altogether, in India. Keshav Raj Kranthi, head of India's Central Institute for Cotton Research
said:
"Just wait for the crucial three to four years to see a complete, natural turnaround. By then most farmers will give up Bt cotton and go for the indigenous variety."
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