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LATEST NEWS UPDATES | Two charts show why western Madhya Pradesh became the epicentre of violent farmer protests -Mridula Chari

Two charts show why western Madhya Pradesh became the epicentre of violent farmer protests -Mridula Chari

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published Published on Jun 15, 2017   modified Modified on Jun 15, 2017
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Soyabean, the main crop of Malwa region, has seen a sharp fall in prices.

As a small-time commission agent who buys soyabean from farmers on behalf of oilseed crushing companies in Indore, Manilal Patel has a ringside view of what sparked the farmer unrest in western Madhya Pradesh this month.

The fertile Malwa plateau here produces around 20% of India’s’s soyabean. As much as 80% of the crop used to be exported out of the country in the form of soyabean meal, which is the residue left after oil has been extracted from the beans.

Over the last year and a half, however, there has been a glut in global soyabean production. In 2017, the estimated global production of soyabean will be 313.05 million tonnes, according to figures from the United States Department of Agriculture. There has been a 150% increase in global production in the last five to six years. Companies in United States, which used to import Indian soyabean as cattle feed, have turned to other countries which produce the oilseed at a lower cost.

Simultaneously, India was flooded with cheap soyabean oil imports as global oil prices dropped low enough to make domestic production unviable for local players. The maximum duty that the government can impose on the imports is 45%, but it chose to keep the rate at just 12.5%. Imports have shot up from 10.91 lakh tonnes in 2012-’13 to 42.35 lakh tonnes in 2015-’16.

Unable to compete with the cheap imports, oilseed crushing companies have scaled back their production, said Patel, who lives in Sukliya Kshipra, a village in Indore district.

The result is a precipitous fall in soyabean prices.

In April and May 2015, Patel bought soyabean from local farmers for Rs 4,000 per quintal. By June and July, the price that companies were offering had dropped to Rs 3,200. Two years later, the rate has collapsed to as low as Rs 1,800 per quintal.

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Scroll.in, 13 June, 2017, https://scroll.in/article/840482/two-charts-show-why-western-madhya-pradesh-became-the-epicentre-of-violent-farmer-protests


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