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India raises soybean minimum purchase price by 10 percent - trade sources

Reuters  |  NEW DELHI 

NEW DELHI (Reuters) - India has raised the minimum purchase price for soybeans to 3,050 rupees ($47.31) per 100 kg from 2,775 rupees, trade sources told Reuters, as the government seeks to protect farmers from falling market prices.The South Asian nation is carrying a huge inventory from last year's record harvest, compounding the woes of millions of debt-ridden farmers who are struggling with low prices amid a glut of produce such as lentils, oilseeds and cereals.Unrest has flared in states ruled by Prime Minister Narendra Modi's Bharatiya Janata Party (BJP), catching regional leaders ...

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First Published: Fri, June 16 2017. 19:07 IST