This Year’s Guaranteed Price for Soybeans is ₹292 Higher than Last Year!Procurement Centers to Open Soon, Numbers to Increase

Mumbai : The guaranteed price of soybeans for the financial year 2024-25 has been set at ₹4,892 per quintal, an increase of ₹292 from last year. The state government has announced that soybean procurement centers have already started operating, with plans to increase their number further.

Soybeans for the 2024-25 Kharif season have been sown in large quantities across the state. The Central Government has declared a guaranteed price of ₹4,892 per quintal for this season’s soybean crop, an increase of ₹292 compared to last year’s rate.

The National Agricultural Cooperative Marketing Federation of India (NAFED) and the National Cooperative Consumers’ Federation of India (NCCF), both central government agencies, will begin procurement of the soybean crop under the Minimum Support Price (MSP) scheme. A state-level review meeting was also held with all major nodal agencies. Following this, the Maharashtra State Cooperative Marketing Federation, Mumbai, and the Vidarbha Marketing Federation, Nagpur, have started registering farmers from 1st October 2024 for the 2024-25 season.

NAFED and NCCF have divided the state’s districts for soybean procurement. A total of 256 procurement centers across 26 districts have been approved, with 242 centers already operational. Soybean procurement at the guaranteed price will commence soon at these centers.

Farmers are encouraged to take full advantage of the soybean procurement scheme under the MSP rate set by the central government. The scheme ensures that farmers receive fair prices for their produce. Farmers should visit the nearest NAFED/NCCF procurement center with their 7/12 extract, Aadhaar card, and bank passbook to register their crops. After receiving an SMS notification, farmers are advised to visit the purchase center to sell their soybeans. So far, about 5,000 farmers have registered for the scheme, and the state government urges more farmers to take advantage of this opportunity.