Bayer CropScience mulls over BT rice development

Vijay Mallya-controlled Bayer CropScience Ltd has taken up a Rs 43-crore capital expenditure plan this year and plans to launch 2-3 new products including BT rice, a top company official said.

The company will spend Rs 43-crore toward capital expenditure this year for products-related activities and is in the process of development of BT rice. It is also working on bio-research technology as well, Bayer CropScience Chairman, Vijay Mallya, told shareholders at the companys annual general meeting (AGM) here.

BT rice is rice that has been modified, by means of biotechnology, with genes from Bacillus thuringiensis (Bt) to produce toxins for resistance to insects.

"We will continue to launch a minimum of 2-3 new products in the market every year and going forward this will also reduce our monsoon dependency as well," Mallya said.

Reacting to the poor monsoon this year, Mallya said that there was no impact on the company business.

The company will continue to concentrate on development of stress resistant products like monsoon resistent, insect resistant, etc., to reduce dependence of the companys products range to unforeseen factors.