Industry suggests hiking MSPs of groundnut, soyabean

New Delhi, Mar 18 (PTI) The edible oil industry hassuggested to the government that the minimum support prices ofgroundnut and soyabean be raised to Rs 2,300 and Rs 1,500 aquintal, respectively, for the next season. "We have submitted that (the) MSP of groundnut should beRs 2,300 and that of soyabean be Rs 1,500 per quintal," saidan industry official who recently participated in theconsultation process of the CACP. The Commission for Agricultural Costs and Prices (CACP)consults stakeholders before recommending the MSPs for a year.It is likely to submit its recommendations for kharif cropsnext month, sources said. The MSPs of groundnut and soyabean are Rs 2,100 and Rs1,390 a quintal, respectively, for the 2008-09 season. Bothare major kharif oilseed crops and are grown between June andSeptember, while harvest begins from October. Oil industry associations -- the Soybean ProcessorsAssociation of India and Central Organisation for Oil Industryand Trade -- have also suggested the CACP recommend a cess onimported edible oils. "The money generated from the cess should be used forincreasing the country' & chr(39) & 's oilseeds production," the officialstressed. (MORE) PTI