Soybean procurement under the Price Support Scheme (PSS) has been significantly lower, accounting for only 2.6% of the sanctioned 32.24 lakh tonnes (LT) as on November 18. Market prices are lower than the Minimum Support Price (MSP), reducing farmers’ incomes.
Soybean procurement, as mentioned above, has been marginally slower, reaching only 2.6% of the sanctioned 32.24 lakh tonnes by November 18. Karnataka’s procurement is short at 636 tonnes compared to 1.03 lakh tonnes, while Maharashtra managed only 13,402 tonnes of the sanctioned 13.08 lakh tonnes. The average mandi price of soybean is ₹4,152 per quintal, which is below the minimum support price of ₹4,892/quintal.
Aims to improve procurement as crop moisture is declining, currently at 12%. However, this decision comes so late in the season that farmers do not have enough time to harvest. Private customers value 10% moisture for lower prices, which traders say creates additional hurdles for farmers. Despite the flexibility, procurement rates remain slow and farmers are getting less than expected returns.
The government expects soybean production of 133.6 lakh tonnes this year, but industry experts have predicted a lower output of about 125.82 lakh tonnes. .
