Extended Procurement: Soybean Lifeline for Farmers

The Indian government has extended the soybean procurement deadline in Maharashtra and Rajasthan to assist farmers amid low market prices. Additional quotas for Telangana have also been approved. The scheme operates at a Minimum Support Price, with the central government overseeing progress in collaboration with state governments.

The deadline for soybean procurement in Maharashtra and Rajasthan has been extended, offering a reprieve to local farmers, Agriculture Minister Shivraj Singh Chouhan announced on Monday. Originally set for mid-January, the deadlines now extend to January 31 and February 4, respectively, after state government requests.

Additionally, the government sanctioned an extra 25,000 tonnes for procurement in Telangana, which surpassed its target of 59,508 tonnes. Nationwide, procurement totals 13.68 lakh tonnes versus the goal of 33.60 lakh tonnes.

This procurement initiative, executed at a Minimum Support Price of Rs 4,892 per quintal, aims to boost farmer support amid declining market prices. The effort prioritizes states based on target allocations, with Maharashtra leading the procurement at 14.13 lakh tonnes, followed closely by Madhya Pradesh. In response to discrepancies, weekly meetings at Krishi Bhavan will monitor agricultural conditions and procurement developments.

(With inputs from agencies.)