NAFED tweeted that NAFED is buying soybean from farmers in Maharashtra at MSP of ₹4,892 per quintal

16-Nov-2024 12:41 PM

NAFED tweeted that NAFED is buying soybean from farmers in Maharashtra at MSP of ₹4,892 per quintal
NAFED has begun purchasing soybean from farmers in Maharashtra at the Minimum Support Price (MSP) of ₹4,892 per quintal, as confirmed by their recent tweet. This initiative aims to ensure fair compensation for farmers and shield them from market price fluctuations.
The move follows a promise by the Prime Minister yesterday to buy soybean at ₹6,000 per quintal from producers in the Vidarbha and Marathwada divisions of Maharashtra. Additionally, the government has raised the permissible moisture content for soybean from 12% to 15%, which will allow more flexibility in the quality of the grain purchased.
At present, NAFED is exclusively buying soybean at the MSP, with no other pricing options being offered.