Madhya Pradesh government has started “MP Soybean Price Deficiency Scheme (Bhavantar)” to save farmers from loss of soybean in the market. Chief Minister Dr. Mohan Yadav announced that no farmer will suffer a loss on soybean sales this year. Under this scheme, if the price of soybean in the market is less than the Minimum Support Price (MSP), then the difference amount is paid by the government.
Prime Minister Narendra Modi fixed the MSP of soybean at ₹5,328 per quintal. To support them, the state government has promised price difference payments and also compensation for crop loss after surveys.
Key Highlights of Soybean Price Deficiency Scheme
| Scheme Name | Soybean Price Deficiency Scheme (Bhavantar) |
| Announced By | CM Dr. Mohan Yadav |
| MSP for Soybean | ₹5,328 per quintal |
| Benefit | Compensation for price difference + relief for crop damage |
| Registration | Mandatory for farmers |
| Payment Mode | Direct transfer to bank accounts |
| Extra Relief | Compensation for yellow mosaic and rainfall-affected crops after survey |
Registration in Soybean Price Deficiency Scheme
STEP 1: Farmers need to visit the registration center or official portal.
STEP 2: Enter Farmer registration Number, Aadhaar number, bank account details, and land records to complete registration.
STEP 3: Once registered, farmers can sell their soybean crop in any notified Mandi.
STEP 4: If the selling price is below MSP, the government will calculate the difference and transfer money directly into the farmer’s account.
If the market price of soybeans is lower than the MSP, the government pays that amount. In addition to paying the price difference, the government is also conducting surveys of soybean fields affected by heavy rains. Through this, farmers will be helped in getting compensation for their damaged crops.