Indore (Madhya Pradesh): In a move to protect soybean farmers from heavy financial losses, the Soybean Processors Association of India (SOPA) has a letter written to Union agriculture minister Shivraj Singh Chouhan, urging him to stop the premature sale of soybean stock by the National Agricultural Cooperative Marketing Federation of India (NAFED) from March 3. SOPA has asked him to instruct NAFED and National Cooperative Consumers’ Federation of India (NCCF) to sell their soybean stocks only after July 15, when the sowing season is over.
SOPA chairman Dr. Davish Jain, in his letter, has cautioned that if NAFED starts selling soybeans in the open market from March 3, it will further depress prices, which are already significantly lower than the Minimum Support Price (MSP), potentially discouraging farmers from cultivating soybean in the next season.
According to SOPA, the current mandi prices of soybean range between rs 3,900 and rs 4,100 per quintal, whereas the government’s MSP is set at Rs 4,892 per quintal. The drastic price drop has led to huge financial losses for farmers, raising concerns that many might shift to other more profitable crops in the upcoming kharif season. The letter highlights that discussions with thousands of farmers across Madhya Pradesh, Maharashtra and Rajasthan reveal widespread disappointment due to poor returns from soybean cultivation. Many farmers have indicated their reluctance to grow soybeans in the next season, if prices remain so low.
SOPA also warned that selling soybean stocks at this time would contradict the government’s objective of boosting oilseed production and achieving self-sufficiency. Drawing a parallel with pulses, the association noted that better price realization was the biggest motivator for farmers to increase productivity and the same principle applied to oilseeds. To prevent further distress among farmers, SOPA has requested the Union agriculture minister to instruct NAFED and National Cooperative Consumers’ Federation of India (NCCF) to sell their soybean stocks only after July 15, when the sowing season is over. According to SOPA, this move will help stabilize prices and ensure fair returns for farmers.
