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Consumer Staples
The agricultural landscape in India is facing a significant challenge as mandi prices of pulses and oilseeds have fallen below the Minimum Support Price (MSP) set by the government. This trend has raised concerns among farmers and traders, who are anxiously waiting for interventions to protect their income. In this article, we will delve into the reasons behind this price drop, the impact on farmers, and the potential measures the government might take to stabilize prices.
Mandi prices for key commodities like soybean, chana (gram), mustard, and tur have been ruling below their respective MSPs. For instance, soybean prices are hovering around Rs 3,900 to Rs 4,100 per quintal, significantly below the MSP of Rs 4,892 per quintal for the 2024-25 season[1]. Similarly, newly harvested chana and mustard prices are also expected to remain below MSP due to increased imports[1].
Soybean: With global soymeal prices declining, soybean prices in India have dropped. The glut in global supplies has further depressed domestic prices, as much of the soybean stock is used for animal feed[1].
Chana (Gram): Despite government support, chana prices are facing downward pressure due to increased imports. The procurement of chana under the Price Support Scheme (PSS) is crucial for stabilizing prices[1].
Mustard: Prices have been influenced by a record production in the previous season, which led to purchases below MSP by government agencies[1].
The financial strain on farmers due to these low prices is significant. When mandi prices fall below MSP, farmers often struggle to cover production costs, let alone earn a profit. This situation can discourage them from planting these crops in future seasons, potentially affecting national food security and the broader agricultural economy.
To address this issue, the government has implemented several measures:
Price Support Scheme (PSS): The PSS is designed to ensure that farmers receive remunerative prices for their produce. Agencies like NAFED and NCCF are involved in procuring pulses and oilseeds at MSP to stabilize market prices[3][4].
Procurement Targets: For the rabi season, the government has set procurement targets for chana, masur, and mustard across key producing states. This includes sanctions for purchasing 1.7 MT of chana and masur in states like Karnataka and Madhya Pradesh[1].
Stock Management: There are calls to manage stock levels carefully to prevent market glut and price crashes. The Soybean Processor Association of India (SOPA) has urged the government not to sell soybean stocks in the open market until after July 15, 2025[1].
As India enters the new agricultural season, the outlook for pulses and oilseeds will depend on several factors:
Monsoon Performance: A robust monsoon season is crucial for a bountiful harvest, which in turn affects market prices.
Import Policies: Changes in import duties or policies can significantly influence domestic prices by altering supply dynamics.
Government Support: Continued support through MSP purchases and price stabilization measures will be vital for maintaining farmer incentives.
The fall in mandi prices below MSP is a pressing concern for India's agricultural sector. It underscores the need for continued government support and strategic management of market dynamics to protect farmer incomes and ensure food security. As the agricultural landscape evolves, it is essential for policymakers to respond effectively to emerging challenges and stabilize prices to maintain the confidence of farmers and traders alike.
