The Union government on Wednesday increased the minimum support price for all major kharif crops. Sowing for kharif, one of the two major crop season cycles in India, generally begins in June.
The minimum support price is the guaranteed amount paid to farmers when the government buys their produce. The Centre fixes minimum support prices for 23 agricultural commodities grown in both the kharif and rabi seasons.
The minimum support price has been increased by Rs 143 to Rs Rs 2,183 per quintal, while for grade A paddy, MSP has been set at Rs 2,203 per quintal.
The highest increase in minimum support price of Rs 805 per quintal has been announced for sesamum, while the lowest increase of Rs 128 per quintal has been announced for maize. Farmers are expected to get the highest margin over their cost of production for bajra (82%) followed by tur (58%), soybean (52%) and urad (51%).
Among pulses, the minimum support price for tur has been increased by Rs 400 a quintal, while that for moong it has been eaise by Rs 803 a quintal. The price for medium staple cotton has been increased by Rs 540 a quintal, while that for long staple cotton has been hiked by Rs 640 per quintal.
Union Minister for Food and Public Distribution Piyush Goyal told reporters that overall kharif production is expected to touch 330.5 million tonnes by the financial year 2023-’24. This would be higher by 14.9 million tonnes as compared to 2021-22, and would constitute the highest increase in the last 5 years.