In a bid to support farmers in view of the large scale production of the crop this year, Maharashtra Chief Minister Devendra Fadnavis is seeking a hike in the import duty of soyabean. There has been a large-scale production of soyabean in the state, much more than the previous year, thanks to good monsoon and various initiatives taken by the government. This may lead to a dip in its prices and hence increase in its import duty is required.
Moreover, the state government has started purchasing the crop at a specific price to give respite to farmers. Also to ensure that farmers do not face distress, the government has taken urgent initiatives. At the same time, if the Centre increases the import duty on soyabean, it will give further relief to farmers.