Over 4,15 Million Tonnes of Soybean Purchased at MSP

Indian Government agencies have procured around 12 percent of the sanctioned soybean quantity at the minimum support price (MSP) as of December 12. Total procurement stands at 4,15 million tonnes, while the procurement window will close later this month in some states. The Agriculture Ministry sanctioned 33,60 million tonnes for procurement, with government agencies currently operating in six states.

Soybean prices remain well below the MSP of USD 0,59 per kg. Prices in most markets hover between USD 0,49-0,51 per kg. In Indore, the average price is around USD 0,50 per kg, marking an 11 percent decline compared to the same period last year.

State-Wise Procurement Progress

In Madhya Pradesh, India’s top soybean-producing state, procurement reached 2,16 million tonnes as of December 12. The sanctioned quantity for MP stands at 13,68 million tonnes. Procurement, which began on October 25, will end on December 31.

In Maharashtra, procurement totals 1,09 million tonnes, against a sanctioned target of 14,13 million tonnes. The procurement window in Maharashtra will remain open until January 12.

In Rajasthan, procurement lags at 11.20 thousand tonnes out of a sanctioned 2,94 million tonnes. Similarly, in Gujarat, procurement stands at 11,97 tonnes compared to the sanctioned 1,14 million tonnes. Gujarat’s procurement will conclude on February 9, while Rajasthan’s will close on January 15.

Telangana shows strong progress with 58,340 tonnes procured against a target of 59,508 tonnes. Procurement in Telangana will end on December 23. Karnataka, however, remains significantly behind with 7,259 tonnes procured against a target of 1,11 million tonnes. The Karnataka procurement period, which began on September 5, will close on January 2.

Conclusion

The public procurement of soybeans at MSP has provided crucial support to farmers, especially as market prices remain below the support level. Madhya Pradesh and Telangana have shown promising procurement numbers, while states like Rajasthan and Karnataka need more momentum. Farmers in states where procurement windows are still open should consider selling their produce at MSP to stabilize incomes.





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