The kharif cropping season has ended, and farm produce will soon start entering agricultural markets, including the state government-regulated Agriculture Produce Marketing Committee (APMC) mandis. Initial data on four major kharif crops shows that their wholesale prices in major producer states have already fallen to the level of the Minimum Support Price, within the first few weeks of crop arrival.

       The MSP is intended to act as a floor for open market prices. Take soybean, for instance. The price of the most popular oilseed cultivated in India has fallen to the MSP (Rs 3,950), ...