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Resource centre on India's rural distress
 
 

Mandi prices of most items above new minimum support prices, only pulses cheaper -Sandip Das

-Financial Express

“Soyabean has been selling much above MSP, however, increase in MSP provides positive signals to farmers,” D K Pathak, executive director, Soyabean Processors Association of India, told FE.

Mandi prices of several agricultural commodities for which the government had announced a 5-9% increase in minimum support prices (MSPs) for the 2022-23 season are currently ruling above the MSP. Only the prices of pulses are mostly ruling below the benchmark price.

Mandi prices of oilseeds, especially soyabean, whose MSP was hiked 9% to Rs 4,300 a quintal for the next crop season are currently ruling 50% above the MSP at Rs 6,500 a quintal in Indore — a trade hub for oilseeds.

According to the Soyabean Processors Association of India, at the start of the 2022-23 season commencing on October 1, the soyabean prices are expected to be around Rs 5,500 to Rs 6,000 a quintal. The robust domestic demand for edible oil and soyebean meal, used as poultry feed has pushed up prices above MSP.

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