Cabinet sent proposal of 4800 MSP of soybean to the Centre: Shivraj said in the morning- Centre will give permission for purchase as per demand of MP government
In Madhya Pradesh, farmers are protesting for the demand of increasing the price of soybean to Rs. 6000 per quintal. Congress is organizing Kisan Sammelan in districts regarding the demand of soybean farmers. Different farmers’ organizations are protesting from districts to villages regarding this demand.
Former Madhya Pradesh Chief Minister and senior Congress leader Digvijaya Singh on Wednesday demanded that the price of Soybean crop be increased to around ₹6,000 per quintal.
Mr. Singh, who hails from the State that produces over 50% of India’s total soybean, issued a video statement to request Prime Minister Narendra Modi, Madhya Pradesh Chief Minister Mohan Yadav and Union Agriculture Minister Shivraj Singh Chouhan to intervene into the matter.
Sources said that robust crop prospects and cheaper imports of edible oil, due to low tariffs, have impacted mandi modal prices of soybean, currently ruling around Rs 4,376 per quintal—approximately 10% below the MSP of Rs 4,892 per quintal in key producing states like Madhya Pradesh, Maharashtra, Karnataka and Telangana.
Soybean is sown in 12.51 million hectare (MH), up 9% compared to previous year. The total oilseed variety sown this season according to the agriculture ministry has been higher than last five years’ average of 12.29 MH. According to Soybean Processors Association of (SOPA), the output of oilseed variety in the 2023-24 crop year was estimated at 11.9 million tonne (MT), while the agriculture ministry has estimated output of oilseed variety at 13.05 MT.
As of today, the output for 2024-25 crop is expected to be better than last year,”D N Pathak, executive director, SOPA, had said while adding the actual crop conditions can be assessed by early October when the harvesting of oilseed commences.
In the last rabi season, despite having a record mustard production of 13.16 MT in 2023-24 crop year (July-June), the mandi prices were ruling below the MSP and the government agencies had purchased 1.2 MT of mustard from the farmers in key producing states of Haryana, Madhya Pradesh, Rajasthan and Uttar Pradesh.
India is the world’s second-largest consumer and number one vegetable oil importer. The country meets about 58% of its consumption of around 24 MT annually through imports.
Currently, India produces about 42% of its domestic edible oil consumption requirement. Mustard (40%), soybean (24%) and groundnut (7%) are other oils that have a share in domestic production.
Currently, crude palm, soybean, and sunflower oil imports attract only a 5% agri infra cess and a 10% education cess,
Earlier, the Commission for Agricultural Costs and Prices (CACP), had recommended that the MSP for the 23 crops to the government, had suggested extending the national mission on edible oils to major oilseeds such as mustard, soybean, sunflower, groundnut, etc. and ensure higher participation of the private sector in procurement operations of oilseeds
