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The Centre has decided to purchase mustard directly from farmers at the prevailing Minimum Support Price (MSP) of Rs 5,650 per quintal to stabilise the market, agriculture minister Arjun Munda said on Wednesday.
The move was initiated given mustard prices dropping below the MSP in hopes of a bumper harvest.
The unabated imports of cheap edible oils allowed at low duties till March 2025 are also contributing to the price fall.
New mustard crops from the 2024 marketing season have begun flooding the markets.
According to trade sources, India's mustard production this year is expected to be around 13 million tonnes as against 11.3 million tonnes last year.
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Mustard prices have dropped to around Rs 5,100-5,200 per quintal as against the MSP of Rs 5,650 a quintal.
Last year, the central government agencies and state governments together purchased around 2.8 million tonnes of mustard from farmers to stabilise prices.
Madhya Pradesh, Rajasthan, Gujarat, and UP are major mustard-growing States in India all of which at present have a ruling BJP in power.
Meanwhile, in a related development, a group of farmers under the banner of Bhartiya Kisan Union (apolitical) today submitted a memorandum to the union agriculture minister Arjun Munda demanding a provision to ensure that farmers are not compelled to sell their produce below the MSP in mandis.
Interestingly, the demand by the farmers also comes days before thousands of growers are planning another round of march to the national capital later this month demanding the legalization of MSP.
The memorandum that was submitted today was prepared after a three-day-long deliberation between various farmers’ groups in the national capital.
It also talked of recognising farmers as a unit for the estimation of insurance claims under the Pradhan Mantri Fasal Bima Yojana (PMFBY).
At present, the village is considered a unit for the determination of claims under PMFBY. The farmers also called for forming separate boards for the development of millet, cereals, fruits, rice, and oilseeds just like it has for coffee and tea.
Farmer-produce companies or FPOs should be allowed exemption from mandi fees and state taxes.
The farmers also demanded that marketing infrastructure for agricultural produce should be developed at a faster clip.
Finally, the memorandum said disbursals under PM KISAN should be raised from the current Rs 6,000 per annum.
Meanwhile, the government today said that it has sold over 275,936 tonnes of atta under the ‘Bharat’ brand to provide cheap flour to consumers.
It has also sold 296,802 tonnes of Bharat Chana Dal at cheaper rates to consumers. This information was presented in the Parliament.
