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Union government approves increase in minimum support prices of 14 kharif crops

New Delhi: The Union Cabinet chaired by Prime Minister Narendra Modi approved an increase in the minimum support prices (MSP) for all 14 kharif crops for the 2024-25 crop season. Kharif  crop season runs from July to June. The minimum support price is the lowest rate at which the government procures crops from farmers.

By this increase, farmers will get around Rs 2 trillion as MSP. This is Rs 35,000 crore more than what they got in the previous season.

‘The hike in MSP of kharif crops is in line with the PM Modi’s third term vision of policy continuity to support farmers and boost their income,’ Union railways minister Ashwini Vaishnaw said while briefing the media on the cabinet decisions.

The highest increase came for oilseeds nigerseed and sesamum. The hike was by Rs 983 and Rs 632 and was fixed at Rs 8,717 and at Rs 9,267 per quintal, respectively. MSP of pulses like tur or arhar (pigeon pea) hiked by about Rs 550 from last year to stand at Rs 7,550 per quintal.

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The MSP of paddy, the main kharif crop, has been raised by Rs 117 to Rs 2,300 per quintal for ‘common’ grade variety and to Rs 2,320 for grade A. Jowar, Bajra, Ragi and Maize, other major cereals’ MSPs have been increased to Rs 3,371-3,421, Rs 2,625, Rs 4,290 and Rs 2,225 per quintal from last season’s Rs 3,180-3,225, Rs 2,500, Rs 3,846 and Rs 2,090 a quintal.

In the case pulses and oilseeds, the increase in MSP has been between Rs 124 to Rs 983 compared to last year. Moong (green gram) and urad (black gram) MSPs have been fixed at Rs 8,682 and Rs 7,400 per quintal, an increase of Rs 124 and Rs 450 from the 2023-24 kharif marketing season.

In the case of oilseeds, groundnut, sunflower seed and yellow soy bean attracted a hike of Rs 406, Rs 520 and Rs 292 from the previous year at Rs 6,783, Rs 7,280 and Rs 4,882 per quintal.

The MSP for cotton, an important cash crop, was fixed at Rs 7,121 for the medium staple variety and Rs 7,521 for the long staple variety, an increase of Rs 501 for both.

The increase in MSP for khaif crops  is in line with the Union Budget 2018-19 announcement of fixing the MSP at a level of at least 1.5 times of the average cost of production. The expected margin to farmers over their cost of production is estimated to be the highest for bajra (77%) followed by tur (59%), maize (54%) and urad (52%). For the rest of the crops, the margin is estimated to be at 50.




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