The Hindu Business Line : Nafed buys 4 lakh t of mustardseed

IN order to stabilise falling mustard prices, National Agricultural Co-operative Marketing Federation of India Ltd (Nafed) has procured over 4 lakh tonnes of mustardseed under the Government's Price Support Scheme in March.

"This is an unprecedented procurement in March from the rabi mustard seed crop," said a press release.

Procurement of a large quantity of mustard seed was necessitated in view of the low ruling prices of the crop due to record and availability of imported edible oils at cheaper rates, Mr Alok Ranjan, Managing Director, Nafed, said in a statement here on Monday.

Mr Ranjan said Nafed was monitoring the ongoing procurement operations on a day-to-day basis in different states. He also urged farmers not to offload their produce to private traders at a lower price than the minimum support price (MSP).

Procurement under the scheme would continue in all the mustard seed-growing states so long as the market price remains lower than the MSP, he said, adding that there was no time limit for the continuity of the scheme, and procurement under the scheme will continue.

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