The government hiked the minimum support price (MSP) or purchase price for soybean crops up to Rs. 349 per quintal as it looked to fulfill its poll promise to give farmers 50 per cent more rate than their cost of production. The announcement of higher MSP coupled with the forecast of normal monsoon this year, could further boost foodgrains output. The MSP of soybean has been increased by Rs. 349 to Rs. 3,399 per quintal.