Centre hikes minimum support price for 14 kharif crops

The Union government on Wednesday increased the minimum support price for 14 kharif crops. Sowing for the kharif season, one of the two major annual crop 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 a minimum support price for 23 agricultural commodities grown in the kharif and rabi seasons.

A press release from the Union government on Wednesday said that the guaranteed price for the season had been increased in line with “the Union Budget 2018-19 announcement of fixing the MSP [minimum support price] at a level of at least 1.5 times of the all-India weighted average cost of production”.

The government said that farmers are expected to receive a margin of more than 50% over their cost of production for four crops: bajra (77%), arhar dal (59%), maize (54%) and black gram at (52%). “For rest of the crops, margin to farmers over their cost of production is estimated to be at 50%,” the press release said.

Cabinet approves Minimum Support Prices (MSP) for Kharif Crops for Marketing Season 2024-25

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