MSP Promises Vs Market Reality: The Soyabean Crisis In Maharashtra That Could Shape The Political Landscape In Upcoming Assembly Polls

In the 2024 Lok Sabha elections, the BJP-led "Mahayuti" alliance faced a significant setback in Maharashtra, winning just 17 out of the 48 seats, with rural distress being one of the major contributing factors.

However, as the state gears up for the upcoming assembly polls, the ongoing crisis in the soyabean market could emerge as a decisive issue, influencing voter sentiment across rural constituencies.

Farmers in Maharashtra are deeply agitated due to the sharp decline in soyabean prices.

While the government-mandated Minimum Support Price (MSP) is Rs 4,892 per quintal, most farmers are receiving only Rs 3,800 per quintal, with a few now getting Rs 4,000 per quintal, according to a report by The Economic Times.

This gap has fueled widespread dissatisfaction, as even the MSP is deemed insufficient to cover farmers' costs.

The situation worsened in September, when soyabean prices plummeted to Rs 2,800 per quintal—a ten-year record low, exacerbating the financial distress of the farming community.

"The state government had recommended to the Centre to give 6,954 per quintal as MSP but the Centre decided on Rs 4,892. The farmers are not getting even this. There is massive anger among farmers over this," said Anil Ghanwat, a farmer leader and member of the Supreme Court-appointed committee on MSP. 

The falling prices of onions hurt the Mahayuti in the Lok Sabha in at least 10 seats, primarily where it was being harvested in the Nashik, Pune, Chhatrapati Sambhaji Nagar, Solapur region.

Recogniging the political implications of these grievances, the Bhartiya Janta Party (BJP) has attempted damage control.

Deputy Chief Minister Devendra Fadnavis, in the party’s manifesto, pledged that soyabean and cotton farmers would be compensated for the difference between the market price and the MSP.

Sensing the BJP’s vulnerability and getting their own ground reports, Congress has now made a more specific promise.

Party President Mallikarjun Kharge declared that a Congress-led government would offer Rs 7,000 per quintal as MSP for soyabean farmers.

Adding to this, Congress leader Rahul Gandhi, in a post on X, reiterated Kharge’s commitment and  announced an additional bonus to accompany the promised MSP.

Assembly elections in Maharashtra are scheduled to take place on 20 November to elect the 288 members, after which the results will be declared on 23 November.

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