Government agencies like the National Agricultural Cooperative Marketing Federation of India and the National Co-operative Consumers' Federation of India Ltd. have purchased a record 1.63 million tonnes of soybeans from farmers across the country at a minimum support price of INR 4,982 per 100 kg. Market participants and experts believe that although the government has done this to support the currently falling prices of soybean in various mandis, it may not be very helpful in the long term as they do not see prices of the legume rising above INR 4,500 per 100 kg.
Share this Story:
