September 6, 2024

Indian Congress leader calls for price increase of soybean crop

The former Chief Minister of Madhya Pradesh, India, and senior Congress leader, Digvijaya Singh, on August 28 demanded that the price of soybean crop be increased to around ₹6,000 (US$71.47) per quintal, or 100 kilogrammes.

Singh, who hails from the state that produces over 50% of India's total soybean, issued a video statement to request Indian Prime Minister Narendra Modi, Madhya Pradesh Chief Minister Mohan Yadav and Union Agriculture Minister Shivraj Singh Chouhan to intervene into the matter.

Claiming that the purchase price of the soybean crop is still around the 2011 rate of ₹4,300 (US$51.22), Singh said. "More than 50% of the country's soybean is produced in Madhya Pradesh, but since 2011, the [production] cost has doubled and tripled, but the price of soybean has remained the same. It was ₹4,300 per quintal in 2011 and is still around the same."

"The price of soybean crop depends on the international soybean production and as per the possibility this year, the price of soybean in the international market will remain similar to the one which till now was being sold at ₹4,000 (US$47.64) or ₹4,300 per quintal, maybe even that may not be available," he added.

"I appeal to the Prime Minister and the Chief Minister that since most of our farmers grow soybean in Kharif, the government must buy its produce," Singh said. "They have demanded that its minimum price should not be less than ₹6,000 per quintal considering today's cost. This is also the demand of (all) farmers of Madhya Pradesh, PM and CM should pay full attention to this."

A similar demand was also raised by the Samyukta Kisan Morcha (SKM) which claimed that the soybean prices had dropped to a 10-year low.

- The Hindu