By admin       2017-06-21

Kaveri Seed:Reports suggest that the seed industry has agreed to a 10 percent price cut on all hybrid seeds except cotton. This is effective from today and is for the kharif season that is currently underway. In an interview to CNBC-TV18, G Vijay Kumar, CFO of Kaveri Seed Company discuss the impact on the company.Reports suggest that the seed industry has agreed to a 10 percent price cut on all hybrid seeds except cotton. This is effective from today, and is for the kharif season that is currently underway.In an interview to CNBC-TV18, G Vijay Kumar, CFO of Kaveri Seed Company discuss the impact on the company. He said the price cut will impact 2-3 percent revenues in the non-cotton seeed business. The price cut is also a part of corporate social responsibility towards the farmers who have struggled for the past three years, he added.The industry is agreed to go for 10 percent price cut on non-cotton hybrid seed. 75 percent of the business for Kaveri Seed Company comes from cotton seed and 25 percent from non-cotton seed business out of which 50 percent business is over, he said.Sales from vegetable business are expected to be around Rs 25 crore in FY18, which is a relatively new business. Maize is a big portion of revenues which will be around 23 percent of revenues this year, he said.

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