Government and industry have different views on the reality of soybean production

22-Mar-2025 04:02 PM

🌱 Soybean Production: Government vs. Industry Estimates 🌱

📊 Government Estimate (2024-25 Season)

  • Record-high production: 🌾 151 lakh tonnes

  • Sowing area increased compared to last year

🏭 Industry & Trade Organizations' View

  • Production estimated lower: ❗ 120-125 lakh tonnes

  • Reason for difference:
    🔹 Heavy rains & floods (July-Aug 2024) damaged crops
    🔹 Govt. estimate overlooked crop losses

💰 Market Price & Government Procurement

  • Soybean price below MSP (₹4892/quintal) since harvest

  • NAFED procurement till March 20, 2025: 🏦 14.72 lakh tonnes
    ✅ Maharashtra: 8.37 lakh tonnes
    ✅ Madhya Pradesh: 3.89 lakh tonnes
    ✅ Rajasthan: 99K tonnes
    ✅ Telangana: 81K tonnes
    ✅ Gujarat: 48K tonnes
    ✅ Karnataka: 18K tonnes

🚨 Concern: Government procurement stopped, forcing farmers to sell below MSP 📉

📌 Conclusion: Soybean market faces price pressure, while discrepancies in production estimates could impact future government policy and farmer support.

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