India's Agriculture Ministry will procure soyabean at the minimum support price (MSP) in Madhya Pradesh following a drop in market rates. This decision comes after similar approvals for Maharashtra and Karnataka.
New Delhi, Sep 11 (PTI) Union Agriculture Minister Shivraj Singh Chouhan on Wednesday said the government will procure soyabean at a minimum support price in Madhya Pradesh amid a fall in the rates below the MSP level.
MSP of soyabean (yellow) is fixed at Rs 4,892 per quintal for 2024-25. The procurement will be carried out under the Price Support Scheme (PSS) implemented by the agriculture ministry.
"MP farmers are worried about soyabean prices ruling below MSP. We received a proposal from the MP government on procurement yesterday night. We have approved it," Chouhan told reporters.
Soyabean will be purchased at an MSP in Madhya Pradesh also, the minister said, asserting that the farming community is a priority for the government and he believes serving farmers is like worshipping God.
Earlier, the Centre had given permission for procurement of soyabean at MSP rate in Maharasthra and Karnataka, he added.
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