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Centre starts procuring soybean at MSP

Gujarat govt also plans to do so for groundnut, cotton; prices slide with bumper harvest

Soybean
Soybean

After many years, the central government had again directed its agencies to purchase soybean directly from farmers at the Minimum Support Price (MSP), with prices having crashed in many markets of Maharashtra. Similar intervention is planned for groundnut seed by the government of Gujarat. In association with Nafed, the Centre’s cooperative marketing arm, it plans to buy 100,000 tonnes of groundnut seed from farmers from the coming week. The Centre has fixed a soybean MSP of Rs 2,775 a quintal, including a bonus of Rs 100. For groundnut, Rs 4,220 a  qtl, with the ...