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Soybean Price: Soybean price dropped by a quarter, who is responsible?

Soybean Price: एक चौथाई रह गया सोयाबीन का दाम, कौन है जिम्मेदार?

Soybean cultivators were hit by the reduction in prices.

In order to provide relief to the poultry traders, the central government had allowed import of 12 lakh tonnes of soymeal on 16 August. Earlier, the price of soybean was 10 to 11 thousand rupees per quintal. After the import order was issued, the market kept falling. The situation is that in Madhya Pradesh, its largest producer, its minimum price has come down to Rs 2400 on Monday. That is, the price of soybean in the open market has now come down to less than its minimum support price (MSP) of Rs 3950 per quintal. Two months ago, the people who were making a ruckus when the farmers got a good price are now missing.

Farmer leader Rahul Raj of Madhya Pradesh says that due to the decision of Soymeal Import, the farmers doing soybean farming have suffered such a huge financial injury. The government has caused huge losses to the farmers for the benefit of some traders. The new crop of soybean is yet to come, in such a situation, traders have slashed the price in a planned manner. That is why there is a demand for MSP guarantee. So that no trader buys the crop for less than that.

how much is the price

In Vidisha Mandi of Madhya Pradesh, the minimum price of soybean came to Rs 2400 per quintal on October 11. While the model price was Rs 5150 per quintal. Farmers are upset due to falling prices in Maharashtra, the country’s second largest soybean product. The Nagpur mandi here on October 11 stood at Rs 3,851, its model price in Ahmednagar mandi was Rs 5,641, Chandrapur at Rs 4,000 and Wani at Rs 4,270 per quintal.

Maharashtra’s Agriculture Minister protested

Soymeal is a product made from soybean seeds that is used as animal feed in the poultry industry. It can also be called soybean cake. The Maharashtra government had protested in writing to the central government against the import of genetically modified soymeal.

Agriculture Minister Dadaji Bhuse wrote, “Soybean is the main oilseed crop, which is sown in 120 lakh hectares during Kharif season. Soybean is cultivated by more than 1 crore farmers in the country. Now his crop is about to be ready. Meanwhile, the central government has given permission to import 12 lakh metric tonnes of soymeal. This decision will have an impact on soybean prices.”

What was the rationale behind the import

The central government is calling soymeal import necessary saying that the skyrocketing prices of soymeal have made animal feed expensive. Due to which the poultry, dairy and aqua industries are being affected.

Also read: Why did Lal Bahadur Shastri give the gift of Minimum Support Price to farmers?

Also read: Why farmers are not getting fair price of wheat, know how much is the cost and how much is the MSP?

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