Indian govt approves procurement of 7.11 lakh tonnes of soybean, moong, and tur at MSP in 3 States
The procurement of these in Uttar Pradesh and Karnataka will benefit growers to the tune of ₹5,547.99 crore
The Indian government has greenlit the procurement of 7.11 lakh tonnes of soybean, moong, and tur at their Minimum Support Prices (MSPs) in three states - Uttar Pradesh, Telangana, and Karnataka. This decision, announced by Agriculture Minister Shivraj Singh Chouhan, comes as the new kharif harvest begins to enter the mandis or agricultural produce marketing committee yards.
Under the Price Support Scheme (PSS), the Central agencies Nafed and NCCF step in to buy oilseeds and pulses when market prices fall below the government-set MSPs. This year, the Centre has waived the need for the States to request purchases. The government aims to shield farmers from falling market prices and ensure they receive fair returns for their produce, especially pulse and oilseed growers.
In Uttar Pradesh, 4.66 lakh tonnes of tur and 6.25 lakh tonnes of moong will be bought; Karnataka will see the procurement of 1.15 lakh tonnes of soybean, 13.41 lakh tonnes of sunflower seed, and 38.25 lakh tonnes of moong; and in Telangana, 62 lakh tonnes of soybean and 10.76 lakh tonnes of moong will be bought. The decision will bolster farmers' economic security, spur domestic production of pulses and edible oils, and aid India's self-reliance goals.
The minister promised transparent arrangements at procurement centers and direct payments into farmers' bank accounts.
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