To ensure profitable prices for soybean producers in India, several urgent steps are required. Here's a breakdown of actions that can address the current situation:

1. Increased Government Procurement:

   • The government needs to ramp up its procurement of soybean at the Minimum Support Price (MSP) of Rs 4892 per quintal, as the current market prices are significantly lower (around Rs 4200 per quintal). This can help stabilize prices and ensure farmers receive fair compensation.

2. Faster Implementation of MSP Purchases:

   • The Solvent Extractors Association of India (SEAI) suggests speeding up the government’s purchase operations. Quick and effective MSP implementation will help reduce discontent among farmers and offer immediate relief.

3. Transportation Subsidy and Road Rate Increase:

   • The government should consider providing subsidies for transportation and increasing the road rate for soybean. This would reduce logistical costs for soybean producers and processors, helping them secure better prices.

4. Interest Subsidy for Soybean Processors:

   • Offering interest subsidies for crushing and processing units can encourage them to buy soybeans at higher prices, making it economically feasible for them to support farmers without incurring losses.

5. Boost Export of Soybean Meal:

   • As domestic consumption is affected by the rise of alternative animal feed sources like DDGM, the focus should shift towards increasing soybean meal exports. The government can incentivize exporters to boost international sales, which can help improve domestic soybean prices.

6. Adjustment of Import Duty on Edible Oils:

   • While an increase in the import duty on edible oils was expected to raise domestic prices, it has not significantly impacted soybean prices. The government might need to review this policy and consider further adjustments to ensure that it supports soybean price stability.

7. Addressing Market Conditions:

   • With a drop in international soya meal prices, domestic demand is weakened. Therefore, it’s crucial to find new markets or avenues for domestic consumption to improve demand and prices.

By taking these steps, the government can help ensure that soybean farmers receive profitable returns, alleviating their current economic losses and boosting the agricultural sector's overall health.