Madhya Pradesh plans to launch price support scheme for soyabean farmers

TO PROTECT OILSEEDS farmers against fall in mandi prices, Madhya Pradesh will launch a price deficiency support scheme — Bhavantar — for soyabean farmers.

- SANDIP DAS

Under the scheme, the state government will compensate the farmers by paying the difference between the prevailing (lower) market price and the minimum support price (MSP) to farmers.

To be rolled out from October 24, the scheme would benefit 0.6 million farmers in Madhya Pradesh.

This will be the second attempt by Madhya Pradesh to initiate the price deficit payment scheme (PDPS), or Bhavantar, aimed at ensuring that farmers get the MSP while the commodity is sold in the market as usual practice.