The south-west monsoon has already marked its entry from Kerala and is expected to cover the whole country in the next 10-15 days. The sustained low prices of oilseeds may make farmers disinterested towards oilseeds cultivation, thereby putting India’s edible oil security at risk, the Solvent Extractors Association of India (SEA) has warned. Key edible oil prices, including soyabean, rapeseed and groundnut prices have declined in the range of 20-28 % since June last year. Against the Minimum Support Price (MSP) of Rs 2,775 per quintal, soybean prices were quoted at Rs 2,550, while rapeseed prices hovered around Rs 3,250 a quintal against the MSP of Rs 3,700 and groundnut prices were quoted at Rs 3,500 a quintal against the MSP of Rs 4,220 a quintal. The south-west monsoon has already marked its… Next »
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