India’s Rs 8,000-crore seed sector is bracing for a hit because farmers shun cotton this summer after expanding the acreage for two consecutive years. Cotton prices have hovered around the minimum support price for most of the current season, putting farmers in distress.

BT cotton’s loss in the battle for acres has enormous corporate interest because it rakes in a third of the seed industry’s revenues. [...] Despite supply tops demand, seeds of top brands are being sold in black market for a huge premium. “Seeds of a leading multinational seed company are being sold for Rs 2,500/packet against its MRP of Rs 930/packet,” said a source. The Maharashtra government has filed 11 cases for overpricing.