MP News: MSP Soybean Procurement Approved by Madhya Pradesh Government for 2024-25

MP News: The Madhya Pradesh government has given the green light for the procurement of soybeans at the Minimum Support Price (MSP) for the Kharif marketing year 2024-25. The procurement will take place under the Central Government's Price Support Scheme, and soybeans will be purchased at the MSP rate of ₹4,892 per quintal, as declared by the central government.

Procurement to be Handled by State Agencies

The state's cooperative marketing federation will be responsible for soybean procurement from registered farmers across 1,400 designated centers. Madhya Pradesh is set to procure around 13.68 lakh metric tons of soybeans at MSP. Should procurement exceed this limit, the state government will step in to purchase the surplus.

Farmer Registration from September 25

Farmers must register for the scheme from September 25 to October 20, 2024, through the e-procurement portal. Soybean procurement will then take place between October 25 and December 31, 2024. Registration will require farmers to submit Aadhaar-linked documents and verification from the local tehsil office if there are discrepancies in land records.

Support for Tenant Farmers and Landholders

Tenant farmers and leaseholders will also be eligible for procurement, with their verification handled by the revenue department. These farmers will need to provide lease agreements and other necessary documents to complete their registration process.

This initiative aims to ensure fair pricing and timely payments to farmers, helping stabilize the state's agricultural economy during the Kharif season.

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