SOPA urges government to delay soybean stock sales until June

Indore(Team Newsbuddy) : The Soybean Processors Association of India (SOPA) has urged the Ministry of Agriculture and Farmers Welfare to halt the proposed sale of soybean stocks by NAFED and NCCF in the open market until soybean sowing concludes by the end of June. In a letter to Devesh Chaturvedi, Secretary of the Ministry, SOPA Executive Director D N Pathak expressed concerns that premature sales could reverse recent price gains and lead to significant losses for farmers and the government.
The letter highlights the positive impact of the earlier decision to postpone soybean sales, which led to a price surge of nearly Rs. 4,000 per ton, benefiting farmers and stabilizing sowing prospects. It also reduced losses for NAFED and NCCF, previously facing deficits of Rs. 15,000 per ton. However, reports of impending tenders to offload stocks have triggered a fresh decline in prices, threatening these gains. SOPA has cautioned that selling soybean stock before June could discourage farmers, disrupt sowing, and cause substantial financial damage, urging the government to delay sales until sowing is complete.