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New Delhi [India], October 17 (ANI): Union Agriculture and Farmers Welfare Minister Shivraj Singh Chouhan held a meeting with farmers and Farmers Union on Thursday. Union Agriculture Minister said that government will purchase soya bean crops from Maharashtra, Karnataka, and Madhya Pradesh at Minimum Support Price (MSP). He also said that the government has raised import duties on oil from other countries.
Also Read | India Poised To Lead Emerging Markets Over Next 3 Years, Cement Its Position in Global Economy by 2035, Says Report. "..
. If a state asked us, we purchased their soybean crop. We have assured Maharashtra, Karnataka, and Madhya Pradesh to purchase soybeans at MSP.
.. When our oilseed prices dropped, we decided to raise the import duty on oil sourced from other countries.
27.5% import duty was levied. Prices of oilseeds including soybean started increasing and I hope, soon, they will reach the MSP.
.." he said.
The discussion was aimed to address crucial issues that affect the farmer communities and analyse the challenges faced in agriculture sector. Also Read | Andhra Pradesh Rains: Heavy Rain Lashes State As Depression Over Bay of Bengal Crosses Coast Between Puducherry and Nellore. Earlier on Wednesday, Union Minister Shivraj Singh Chouhan said that Prime Minister Narendra Modi had resolved that the crops would be purchased at at least 50 per cent profit above the cost of production to the farmers.
"PM Modi had resolved that the crops would be purchased from farmers at at least 50 percent profit above the cost of production," Shivraj Singh Chouhan said. The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi on Wednesday, approved the increase in the Minimum Support Prices (MSP) for all mandated Rabi Crops for the Marketing Season 2025-26. According to a statement, the government has increased the MSP of Rabi Crops to ensure remunerative prices to the growers for their produce.
The absolute highest increase in MSP has been announced for Rapeseed & Mustard at Rs 300 per quintal followed by Lentil (Masur) at Rs 275 per quintal. For gram, wheat, safflower, and barley, there is an increase of Rs 210 per quintal, Rs150 per quintal, Rs140 per quintal, and Rs130 per quintal respectively. The increase in MSP for mandated Rabi Crops for Marketing Season 2025- 26 is in line with the Union Budget 2018-19 announcement of fixing the MSP at a level of at least 1.
5 times of the All-India weighted average cost of production. The expected margin over all-India weighted average cost of production is 105 percent for wheat, followed by 98 percent for rapeseed & mustard; 89 percent for lentil; 60 percent for gram; 60 percent for barley; and 50 percent for safflower. This increased MSP of rabi crops will ensure remunerative prices to the farmers and incentivise crop diversification.
(ANI) (This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body).
