Record Soybean Procurement Shields Farmers Amidst Price Dip

The Centre has achieved a record procurement of 13.73 lakh tonne soybean under the Minimum Support Price scheme this marketing season. This move, led by specific ministry efforts, has surpassed previous records and benefited 5.78 lakh farmers. Key procuring states include Madhya Pradesh, Maharashtra, and Telangana.

The Centre's procurement of soybean under the Minimum Support Price (MSP) scheme has reached a record-breaking 13.73 lakh tonne this marketing season, a senior agriculture ministry official disclosed on Thursday.

The initiative aims to safeguard farmers against plummeting prices and has surpassed past records, including the 19,483 tonne procurement in 2018-19. Special efforts by the ministry have been credited for this achievement, focusing on state-level awareness campaigns.

Procurement covers 41 per cent of the sanctioned 33.85 lakh tonne, benefiting 5.78 lakh farmers. Madhya Pradesh and Maharashtra emerged as leading procurers, with efforts to maintain quality through innovative moisture content measures ensuring optimal storage of the procured soybean.

(With inputs from agencies.)