Government to Procure Soyabean at MSP in Madhya Pradesh Amid Falling Prices

Union Agriculture Minister Shivraj Singh Chouhan announced that the government will procure soyabean at the minimum support price in Madhya Pradesh. This decision comes amid a decline in soyabean prices below the MSP level. The procurement will be carried out under the Price Support Scheme.

Union Agriculture Minister Shivraj Singh Chouhan announced on Wednesday that the government has decided to procure soyabean at the minimum support price (MSP) in Madhya Pradesh. This measure aims to support farmers amid declining soyabean prices below the MSP level.

The MSP for soyabean (yellow) has been fixed at Rs 4,892 per quintal for the 2024-25 period. According to Chouhan, the procurement will be conducted under the Price Support Scheme (PSS) implemented by the agriculture ministry.

Chouhan assured reporters that the farming community remains a priority for the government, stating that serving farmers is akin to worshipping God. Permission for soyabean procurement at the MSP rate has previously been granted to the states of Maharashtra and Karnataka.

(With inputs from agencies.)