New Delhi: The Union government has decided to hike the minimum support price (MSP) of several commodities for kharif season (2023-24). Minister for Food and Consumer Affairs, Commerce and Textiles Piyush Goyal announced this. The MSP for farmers has been increased by 10%. This is the highest rises in minimum support price (MSP) in recent times.
A Cabinet meeting chaired by Prime Minister Narendra Modi approved a decision to raise MSP of rice, by 7% to Rs 2,183 per quintal (100kg) for the common variety. For the ‘Grade A’ variety of rice MSP was raised to Rs 2,203 per quintal.
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The hike in MSP of groundnut is up to 10% to Rs 6,357 per quintal, for Tur/Arhar it is a 7% hike to Rs Rs 7,000 per quintal while for Urad it is Rs 6,950 per quintal. The hike in MSPs in Jowar, Bajra and Ragi is up to 6% to 7%. MSP for sunflower increased by 5.6%, from Rs 6,400 to Rs 6,760 per quintal. That for sesamum seeds has been raised by 10.2%, from Rs 7,830 to Rs8,635 per quintal.
Earlier the Union government removed a ceiling on the procurement of Tur, Urad and Masur, to allow farmers to produce as much quantity as they want.
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