New Scheme by MP Government to Help Soybean Farmers (Sep 13, 2017)

Recently Madhya Pradesh government comes up with the new scheme to help its soybean farmers. This scheme likely to have an adverse impact on other soya-cultivating states like Maharashtra and Rajasthan.

The MP government has promised its farmers to bear the difference between average market price and minimum support price (MSP) under its Bhavantar Bhugtan Yojana (Price Deficit Financing Scheme). This is likely to drive soybean prices below the MSP of Rs 3,050 per quintal.

If prices in MP fall below MSP, it will naturally lead to a fall in prices in Rajasthan and Maharashtra. This is worrying farmers in Maharashtra and Rajasthan as they may have to sell their produce at rates much lower than the MSP without enjoying the cushion.

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