Reference to Monsanto unintended: Cygnus

Cygnus Business Consulting & Research, which prepared a report on the Andhra Pradesh textile industry on behalf of the Confederation of Indian Industry (CII), stated that the specific reference to Monsanto in the report was "unintended and inadvertent".

In a press release here on Sunday, the company said that the report was only seeking to convey the concern expressed by the textile industry on the high cotton seed prices, "which has no relation to the commercial practices and pricing policy of Monsanto per se".

The Cygnus' earlier report stated that the CII urged the state government to "continue its pressure on Monsanto, the major supplier of genetically modified crop seeds, for further reduction of cotton seed prices".

The company now states that it was "in full agreement with the CII's overall and stated position that pricing of goods and services in a free market economy like India should be determined by market dynamics".