SOPA Demands 10% Import Duty on Edible Oils and Soy Procurement under Price Deficiency Payment Scheme
08-Sep-2025 09:44 AM
SOPA Demands 10% Import Duty on Edible Oils and Soy Procurement under Price Deficiency Payment Scheme
★ SOPA wrote to the central government demanding a 10% import duty on edible oils so that farmers can get fair prices for oilseeds.
★ The letter mentioned that the MSP for soybean for 2025–26 has been declared at ₹5,328 per quintal, but market prices are hovering between ₹4,800–4,900 per quintal.
★ Soy crushing has declined, leading to a fall in prices. Availability of cheaper DDGS has also reduced demand for soybean meal.
★ Due to lower prices, soybean acreage dropped by 5% compared to last year. SOPA has also demanded the implementation of the Price Deficiency Payment Scheme (Bhavantar Yojana) to ensure MSP for farmers.
★ Under the PSS scheme, 20 lakh tons of soybean were sold in 2024–25. NAFED and NCCF are continuing open market sales of soybean.