Subdued cotton prices may force farmers to move to soybean this kharif

Soybean prices are currently trading at 25% premiums to MSP after initially slipping below govt's threshold procurement price of Rs 2,850 a quintal

Many cotton farmers are reportedly looking to shift to soybean during the coming kharif sowing season, as the oilseed fetched a better return last year.

During most of the 2017-18 cotton season (July 1 to June 30), prices have, barring a couple of short-term ripples, remained lower than the minimum support price (MSP) fixed by the government. It was only towards the end of the supply season, that prices moved above the MSP of Rs 4,020 a quintal for medium staple and Rs 4,320 a qtl for long staple in the Gujarat spot market, thanks to aggressive procurement by government-owned Cotton