They were selected by a five-member jury headed by eminent agriculture scientist M S Swaminathan, among 30 nominees, Murugappa Group's Coromandel International Ltd which instituted the award, said.
"This is a very prestigious award in the agriculture arena", Coromandel International Managing Director Kapil Mehan told reporters.
The award carrying a prize of Rs five lakh, gold medal and a citation would be presented by Planning Commission Deputy Chairman, Montek Singh Ahluwalia at a function on November 28 in New Delhi.
The Director General of International Rice Research Institute, Robert S Zeigler would deliver the Coromandel lecture on "Cutting edge Science for food security, economic growth and environment protection" on that day.
Prabhu was instrumental in taking up the issue of redefining basmati rice in India to enable development of high yielding basmati rice so that farmers in the country could compete effectively in the global market.
Singh has been associated with the Indian Agriculture Research Institute's development and popularisation of seven basmati/long grain aromatic rice varieties.
The Borlaug Award instituted in honour of Nobel Laureate Norman E Borlaug, honours eminent men of Science and Industry for their distinctive contribution to the cause of agriculture.
