Soybean Harvest

The Centre has procured a record 13.73 lakh tonne of soybean under the Minimum Support Price (MSP) scheme so far in the current marketing season, a senior agriculture ministry official said on Thursday. The procurement, undertaken to protect farmers from falling prices, has surpassed all previous records, with the last highest procurement being 19,483 tonne in 2018-19. "In soybean, we have achieved an all-time high procurement under PSS (Price Support Scheme). This was possible due to special efforts the ministry took to create awareness in states," the ministry official told PTI on condition of anonymity. The procurement represents 41 per cent of the total sanctioned quantity of 33.85 LT and has benefited 5.78 lakh farmers till January 13 of the 2024-25 kharif marketing season. The procurement is being carried out through nodal agencies Nafed and NCCF at a support price of Rs 4,892 per quintal across six states. Nafed has procured 9.78 lakh tonne, while NCCF has procured about 3.

India uses soybeans to manufacture soyoil, which helps the country cut its hefty edible oil imports, while the by-product soymeal is used for animal feed and exported mainly to Southeast Asia

Government confident of bumper harvest; could cool down inflation but experts say excess rains, pest attach could play spoilsport in some crops

Soybean Processors' Association estimates India's soybean output at 9.3 million tonnes for crop year 2019-20, a sharp decline from 10.9 million tonnes reported in 2018-19

For lakhs of farmers in Madhya Pradesh, the rain in the last few days has washed away hopes of getting a good harvest

This may lower yields if it is not contained in time