Raising Concern
Sell soybean in open market only after sowing is completed, SOPA urges govt
This story was originally published at 16:04 IST on 25 February 2025
Register to read our real-time news.Informist, Tuesday, Feb. 25, 2025
MUMBAI – The Soybean Processors Association of India has urged the government to sell soybean in the open market only after Jul. 15, once sowing of the crop is completed, according to a letter by the association to Agriculture Minister Shivraj Singh Chouhan.
The government has said that the National Agricultural Cooperative Marketing Federation of India will start selling the soybean it had procured from farmers under the price support scheme from Monday.
Prices of soybean in local markets are at INR 3,900-INR 4,100 pr 100 kg, much below the minimum support price of INR 4,892 per 100 kg. "The move to sell soybean now is ill-timed as it will result in further fall in soybean prices," the association wrote in the letter, dated Tuesday.
It added that further fall in prices would discourage farmers from sowing soybean in the coming kharif season, which starts in the third week of June and continues till Jul. 15. "Interaction with a large number of farmers in Maharashtra, Madhya Pradesh, and Rajasthan has clearly indicated that they are disappointed with the such low return on soybean cultivation and will move to other more remunerative crops in the coming season," it said.
The association said the sale of soybean at this time would also be contrary to the government's target of self-sufficiency. "As we have seen in the context of pulses, good prices are the single biggest factor for the farmers deciding to grow more pulses and increase productivity. Same will be the case with oilseeds and we must ensure remunerative prices to the farmers." End
Reported by J. Navya Sruthi
Edited by Avishek Dutta
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