Maharashtra Elections: Farm Prices Take Center Stage As Soybean Rates Drop
Maharashtra’s soybean farmers are struggling as prices fall below the Minimum Support Price (MSP) of ₹4,892 per quintal, with current prices ranging from ₹2,800 to ₹4,400. The state government has urged the Centre to impose import duties on edible oil to support prices. Farmers demand better price stabilisation and compensation for weather-related losses.
Maharashtra’s soybean farmers are facing a tough time as prices have dropped below the Minimum Support Price (MSP) of ₹4,892 per quintal set by the Centre for the 2024-25 crop year. The current prices in Agricultural Produce Market Committees (APMCs) range between ₹2,800 and ₹4,400 per quintal, with some markets like Hinganghat and Lasalgaon-Vinchur recording prices as low as ₹2,800 and ₹3,000 per quintal, respectively. This price drop has sparked concerns among farmers, prompting the state government to urge the Centre to impose import duties on edible oil, soya milk, and cake to support domestic prices.
The situation is critical, especially in drought-prone regions like Vidarbha and Marathwada, where soybean is a major cash crop. Farmers are struggling to recover from mounting financial losses due to unpredictable weather patterns and fluctuating market prices . The state government has announced a compensation of ₹5,000 per hectare for soybean farmers who suffered losses last season, but farmers are seeking better price stabilisation mechanisms and compensation for weather-related losses.
The price drop is attributed to increasing imports of edible oil, which has dampened domestic rates, and higher soybean crop in the US and Brazil. The Ministry of Agriculture has informed the Lok Sabha that the MSP for soybeans is determined based on recommendations from the Commission for Agricultural Costs and Prices (CACP), considering factors like cost of production, domestic and international prices, and a margin of at least 50% over production costs.
With the state assembly elections around the corner, the Devendra Fadnavis, Eknath shinde and Ajit pawar led government is under pressure to address the concerns of soybean farmers. The government may consider taking steps to stabilise prices and provide relief to farmers to avoid potential backlash from the farming community.
Source Link : https://www.mypunepulse.com/maharashtra-elections-farm-prices-take-center-stage-as-soybean-rates-drop/
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