The Soyabean Processors Association of India (SOPA) has appealed to the government to refrain from allowing the sale of soyabeans acquired under the Price Support Scheme (PSS) before July. This request comes in light of concerns surrounding the current soyabean prices, which are already below the Minimum Support Price (MSP) levels and could potentially impact the upcoming kharif sowing season.
NAFED’s latest procurement figures indicate that over 14.71 lakh tonnes of soyabean have been bought at an MSP of ₹4,892 for the kharif marketing season 2024-25. The majority of these purchases were made in Maharashtra (over 8.36 lakh tonnes) and Madhya Pradesh (over 3.8 lakh tonnes). The government’s initial estimates project a soyabean crop of 133.60 lakh tonnes for the 2024-25 season, up from the previous year’s 130.62 lakh tonnes.
SOPA Chairman Davish Jain expressed his concerns in a letter to Union Agriculture Minister Shivraj Singh, highlighting the detrimental effects of selling soyabean at this time. Jain emphasized that offloading soyabean stocks now, when market prices range between ₹3,900 to ₹4,100 per quintal (well below the MSP of ₹4,892), could further depress prices and discourage farmers from planting soyabean during the critical kharif sowing period.
Jain pointed out that farmers in Maharashtra, Madhya Pradesh, and Rajasthan are already disheartened by the low returns on soyabean cultivation and may opt for more lucrative crops in the upcoming season. Furthermore, he underlined that selling soyabean now would contradict the government’s goal of achieving self-sufficiency in soyabean production.
To address these concerns, Jain urged the minister to instruct NAFED and NCCF to delay selling soyabean stocks in the open market until after July 15, by which time the sowing season will have concluded. By ensuring that farmers receive fair prices for their soyabean produce, the government can incentivize increased cultivation and productivity in the oilseed sector, aligning with its agricultural objectives.
Published on February 25, 2025.
