1. Maharashtra procures 1.63 lakh quintal of soybean at minimum support price

Maharashtra procures 1.63 lakh quintal of soybean at minimum support price

Soybean prices have fallen below the minimum support price (MSP) to around Rs 2,700-Rs 2,825 per quintal in Maharashtra and according to the state government, it has purchased over 1.63 lakh quintal of soybean from 11,000 farmers for Rs 50 crore.

By: | Pune | Published: November 30, 2017 4:06 AM
minimum support price, Maharashtra procures, soybean, soybean price, soybean market, soybean in Maharashtra, soybean minimum support price Soybean prices have fallen below the minimum support price (MSP) to around Rs 2,700-Rs 2,825 per quintal in Maharashtra. (Image: Reuters)

Soybean prices have fallen below the minimum support price (MSP) to around Rs 2,700-Rs 2,825 per quintal in Maharashtra and according to the state government, it has purchased over 1.63 lakh quintal of soybean from 11,000 farmers for Rs 50 crore. MSP for the crop is Rs 2,850 a quintal, in addition to a Rs 200-bonus for farmers to encourage sowing. Sadabhau Khot, Maharashtra minister of state for agriculture and marketing said as many as 153 purchase centres have been opened across the key soybean growing regions of the state through NAFED and purchase has picked up in the last 10 days or so. The target is to procure10 lakh quintal, Khot said.

Officials at the Latur Agriculture Produce Market Committee (APMC) said though procurement had begun with prices below MSP levels, the process has not picked pace due to the online registration process. While arrivals are the tune of some 40,000 quintal a day, government procurement is barely around 20 quintal, 50 quintal or 100 quintal a day, chairman of Latur Lalitbhai Shah said.

Get latest news and updates on Auto Expo 2018, check breaking news on Budget 2018, like us on Facebook and follow us on Twitter.

  1. No Comments.

Go to Top