9875 Views
Updated On:
Madhya Pradesh begins MSP soybean purchase with a token system, offering farmers price stability, multiple centers, and timely payments.
Farmers in Madhya Pradesh are set to start selling their soybeans at the minimum support price (MSP) from October 25, 2024. With falling market prices causing concern, this government initiative aims to provide stability. This is the first year the state will purchase soybeans from farmers at MSP, which has generated significant interest among local farmers. The purchase program will continue until December 31, 2024.
To make the process smoother, the state has also implemented a token system. Farmers will need to secure a token before they can sell their soybeans at the designated centers.
Also Read: Madhya Pradesh Shramik Rural Housing Scheme 2024: Rs 50,000 Subsidy for Building Homes
Under the token system, farmers must obtain a token before selling their soybeans. This step-by-step system aims to reduce crowding and also ensure efficient purchases at the collection centers. Without a token, farmers will not be allowed to sell their crops at the centers.
Tokens will be issued based on the capacity of each purchase center to ensure smooth operations. In cases where centers cannot accommodate large numbers of farmers, the District Collector will schedule specific dates for crop purchase, issuing tokens to align with available slots. Farmers can also collect their tokens from the designated agencies overseeing the purchase.
To accommodate the high number of soybean sellers, over 1,400 centers have been set up in locations like government mandis and cooperative societies. The state government has also promised to open additional centers if needed. Farmers can expect payments directly to their accounts within 48 hours of selling their produce. This year, Madhya Pradesh has received approval from the central government to purchase 13.68 metric tonnes of soybean at MSP.
Also Read: Rs 2398 Crore Subsidy Transferred to Soybean and Cotton Farmers
The state’s Deputy Chief Minister Rajendra Shukla confirmed on October 22 that the MSP for soybeans is set at ₹4,892 per quintal. This rate was approved by the central government and will be valid throughout the purchase period. Currently, 3.44 lakh farmers have registered for soybean sales, with more expected to sign up as the registration process continues.
Also Read: Soybean MSP Purchase Dates Announced: Registration, Rate & Process
Market prices for soybeans in various mandis across Madhya Pradesh are generally below the MSP.
Please note that the above prices are the highest observed in these mandis but remain below the MSP, making the MSP program especially beneficial for farmers this season.
This new MSP initiative is anticipated to bring relief and stability to farmers facing low market prices, offering them a reliable option to sell their produce at government-supported rates.
Also Read: Govt Launches Bharat Chana Dal Phase II: Affordable Pulses at Rs. 70/kg in Delhi-NCR
The MSP purchase of soybeans in Madhya Pradesh provides much-needed price stability for farmers amid falling market rates. With a streamlined token system, multiple purchase centers, and quick payment assurance, this initiative supports farmer’s income and encourages smooth sales, ensuring financial relief for them this harvest season.