A government panel has recommended maximum retail price of cotton seed at Rs 800 per packet, including Rs 49 as royalty fee payable to technology providers, for the 2016-17 season.
The price and trait value recommended by the nine-member panel is lower than the current rates of Bt cotton seeds.
The government is likely to accept the recommendations of the panel and a notification in this regard will be issued in a day or two, sources said.
The Centre, in December last, issued an order to control cotton seed prices including trait or royalty value effective from 2016-17 crop year. A committee under the Agriculture Ministry has been set up to recommend the seed price along with royalty fee soon.
Mayhco Monsanto Biotech Ltd (MMBL), a joint venture firm of Monsanto, has challenged the order in the Delhi High Court.
"The committee has submitted the report after taking opinion from all stakeholders. It has recommended MRP of Bollgard II Bt cotton seeds at Rs 800/packet (450 grams) for 2016-17 season as against the average prevailing rate of Rs 1,100/packet," an Agriculture Ministry official said.
It has suggested a drastic cut in trait value to Rs 49/ packet from the current Rs 163/packet, the official said.
Last week, US biotechnology major Monsanto had warned of re-evaluating its presence in India and holding back new technology if the government cuts trait fee of Bt cotton seeds drastically through "arbitrary and potentially destructive" interventions.
MMBL has sub-licensed Bt cotton seed technology since 2002 to 50 domestic seed companies.
