He also said politicians from all parties should unite on national issues like rich-poor divide, plight of farmers and threat from China.
"If the farmer is prosperous, the country is prosperous.... In Europe, I have seen farmers being given a lot of benefits. In the US, government ensures that farmers get sufficient price for their produce. Government there is willing to dump excess foodgrains into the sea to ensure prices do not drop steeply. In India this could not happen," Yadav said.
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He said some states in India are also trying to ensure that farmers get due price for their produce. "UP is perhaps the only state where farmers have been given benefits.... We have made the beginning. Farmers are getting free water for irrigation. We are making efforts," he said.
He was speaking at the release of a book on him 'Sangharsh ke safar ka nayak Mulayam' by Vice-President Hamid Ansari.
The book was released to mark the birthday of the SP chief who turned 75 on November 22.
The former UP chief minister credited the efforts of former Prime Minister and farmer leader Charan Singh for bringing the plight of farmers in the limelight.
"Today, people may not do anything for farmers. But due to the efforts of Charan Singh, they at least speak about their plight," he said.
In his brief remarks on the occasion, Vice-President Ansari termed farmers as the "bricks" of the structure called India. He said if farmers are not happy, the country cannot prosper.
Former Lok Sabha Speaker Balram Jhakhar was also present. The Congress leader said while Yadav and he belong to "rival" political parties, their perspective on a variety of issues was similar.
He recalled that though he was the Speaker, he had opposed a proposal by later Indrajit Gupta to levy tax on farmers. "Speakers can't speak on such issues, but when we do, we do it forcefully," he said.