Soyabean, groundnut, and sunflower prices have fallen 8-25% below the Minimum Support Price (MSP) in agri-terminal markets during the early days of the harvesting season. Farmers face significant losses due to delayed MSP-based procurement, with soybean prices averaging ₹4,268 per quintal, 12.8% lower than the MSP. Large crop expectations and export uncertainties, particularly in Iran, add downward pressure on oilseed prices.
Crops like maize, tur, and sesame have traded above the MSP, providing some relief, while others like urad and bajra have also dipped below the support price. Farmers in Rajasthan have suffered major financial losses due to the government’s inaction. The drop in oilseed prices is due to large crop expectations, particularly with fresh soybean arrivals, and export uncertainties caused by turmoil in the Middle East.
Other crops like maize, tur, and sesame have traded above the MSP, providing some relief to farmers. The government has increased import duties on edible oils to 20%, stabilizing the market. However, Nafed’s procurement of oilseeds and pulses remains limited, with only small quantities of moong and sunflower being purchased.
