Kharif season: Soyabean seed manufacturers stare at price dip

Ajeet Mulay, member of National Seed Association of India and managing director of Aurangabad’s Green Gold group, estimated that 10-15 per cent of seeds are in excess.

“Prices will further correct as the demand seems to be low,” said Vipin Kasliwal, president of Maharashtra Seed Manufacturers.

“This is mostly due to farmers preferring cotton over soyabean. Last year soyabean prices in wholesale markets had almost remained constant, and those who held on to their crop in hope of better prices failed to realise them. This time, most of them are in two minds over the crop,” he said.

For most of 2022-23, the average traded price of soyabean in wholesale markets was between Rs 5,100-5,300/quintal. While this was above last season’s Minimum Support Price (MSP) of Rs 4,300, farmers had hoped the prices would touch or cross the Rs 6,000/ quintal mark.

More so, because they had made windfall gain in 2021-22 when prices had touched Rs 10,000/quintal. “Most farmers are still holding on to their produce,” Kasliwal said.

Also Read

Pune police arrest army deserter who posed as officer at Southern Command

Darshana Pawar death: Pune police search for missing friend, probe murder...

Darshana Pawar death: Multiple injuries on body point to murder, say police

Doctor kills wife, 2 children, dies by suicide: Police

Another reason for excess availability, said members of the seed industry, was the entry of several Farmers Producer Companies (FPCs) in the markets. “Around 100-150 FPCs have entered seed manufacturing. Such players are mostly in local pockets but they have influenced prices,” said a seed manufacturer.