NEW DELHI: The government has raised the minimum support price for 14 kharif (monsoon) crops, with oilseeds, pulses and cotton witnessing the highest increase to incentivise farmers to grow these crops.
Prices have been increased by Rs 622 per quintal for sunflower seeds, Rs 557 per quintal for cotton, Rs 515 per quintal for nigerseed and Rs 500 per quintal for sesamum.
Based on expected margins over cost of production, the MSP hike is the most for moong at 61%, followed by bajra and maize (56% each) and tur (54%). For other crops, it is estimated to be around 50%.
The MSP for paddy (rice), the main kharif crop, has been increased by Rs 72 per quintal, taking it to Rs 2,441 for the ‘common’ variety and Rs 2,461 for ‘Grade A’.
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The Food Corporation of India, the government’s procurement agency, holds record-high rice stocks. This has led the government to increase the allocation of the grain for ethanol production.
