MP Unveils Price Difference Payment Scheme for Soybean

27-Sep-2025 12:39 PM

Bhopal. The Chief Minister of Madhya Pradesh has announced that for the 2025-26 Kharif Marketing Season, the state government will implement a Price Difference Payment Scheme for soybeans, under which farmers will be paid the difference between the prevailing market price and the Minimum Support Price (MSP) announced by the central government.

According to the Chief Minister, the government is committed to ensuring fair returns to farmers for their soybean crop.

A statement issued by the Chief Minister stated that based on suggestions received from farmer organizations, the state government has decided to extend the benefits of the Price Difference Scheme to soybean producers this year.

Farmers will continue to sell their soybeans in wholesale markets as before, and if they sell their produce below the MSP, the government will reimburse them the difference in the support price.

For example, for the 2025-26 marketing season, the central government has set the minimum support price (MSP) for soybean at ₹5,328 per quintal. If the market price remains at ₹4,328 per quintal, the government will pay the remaining ₹1,000 per quintal to farmers.

It is noteworthy that the average wholesale market price of soybean in Madhya Pradesh between September 1 and 25 was ₹4,121 per quintal, lower than the all-India average price of ₹4,141 per quintal. On September 26, the average price of soybean in wholesale markets further declined to ₹3,837 per quintal.

According to available data, the arrival of new soybean stock in Madhya Pradesh's markets on September 26 was recorded at 9,080 tons.

According to an agricultural analyst, a price difference payment scheme was implemented for the soybean crop in Madhya Pradesh in 2017, a bitter experience the farmers have not yet forgotten.

Now, it is being implemented again. Instead, if soybean is purchased directly at the minimum support price, farmers will get more relief.