As soybean prices continue to remain bearish, trade body Soybean Processors Association of India (SOPA) has urged the government to impose 10 per cent duty on edible oil imports and implement the Bhavantar Bhugtan Yojana (Price Deficiency Payment Scheme) in place of the large-scale procurement under the Price Support Scheme (PSS) for the kharif marketing season 2025-26.
Soyabean prices have remained below the MSP of ₹4892 per quintal during the current marketing year October 2024-September 2025, due to depressed prices of soyabean meals and oil. Also, the long-standing policy of permitting imports at nail or very low duties has inflicted serious damage on the oilseed economy of the country, SOPA said in a letter to the Agriculture Minister Shivaraj Singh Chauhan, while highlighting that necessary steps have to be taken to correct the imbalance by adopting a policy framework to protect both consumers’ and farmers’ interests.
“We, therefore, earnestly request your kind intervention to revisit the customs duty structure on imported edible oils and increase the duty by at least 10 per cent at the earliest. Such a measure will go a long way in restoring farmers’ confidence, incentivising greater oilseed production, and reinforcing India’s journey towards self-sufficiency,” SOPA chairman, Davish Jain said in the letter to Chouhan.
