MUMBAI, 20 Jun (Commoditiescontrol): The Cabinet Committee on Economic Affairs (CCEA) has approved a significant increase in the minimum support prices (MSP) of 14 key kharif crops for the marketing season 2024-25, marking an increment of 1.4% to 12.7%. This decision aims to provide greater financial security and motivation for farmers, ensuring they receive a fair return on their produce.
For paddy, a staple crop, the MSP for the common variety has been increased by 5% to ₹2,300 per 100 kg, while the grade A variety sees a similar 5% rise to ₹2,320 per 100 kg. This adjustment aligns with the Union Budget 2018-19 announcement, which pledged to set the MSP at least 1.5 times the all-India weighted average cost of production.
The MSP for pulses has also seen notable increases. Tur (arhar) is up nearly 8% to ₹7,550 per 100 kg, and urad has been raised by 6.5% to ₹7,400 per 100 kg. Moong, another essential pulse, has seen a modest increase of 1.4% to ₹8,682 per 100 kg for the upcoming season.
Among cereals, maize has received a 6.5% hike in its MSP, now set at ₹2,225 per 100 kg. These increases are expected to provide farmers with a stable income, particularly in the face of fluctuating market prices, and encourage the cultivation of these crops.
The CCEA's move to increase MSPs is part of a broader strategy to diversify crop production beyond cereals to include more pulses, oilseeds, and nutri-cereals. This diversification is supported by offering higher MSPs for these crops, incentivizing farmers to allocate more area to them.
The government's emphasis on promoting the cultivation of oilseeds and pulses is evident, as these categories have seen the highest absolute increases in MSP compared to the previous year. This policy not only ensures better returns for farmers but also aims to boost the production of these essential crops, enhancing food security and nutritional availability.
In summary, the updated MSPs for the 2024-25 season reflect the government's commitment to supporting farmers and promoting agricultural diversity. These changes are poised to provide significant benefits to the agricultural sector, aligning with national production goals.
| Minimum Support Prices for all Kharif crops for Marketing Season 2024-25 (Rs/per quintal) |
| Commodity |
Variety |
MSP(2024-25) |
MSP(2023-24) |
Increase |
Margin over cost* (in %) |
| Absolute |
Change |
|
| |
| (in %) |
| Paddy |
Common |
2,300 |
2,183 |
117 |
5.4 |
50 |
| Grade A |
2,320 |
2,203 |
117 |
5.3 |
- |
| Jowar |
Hybrid |
3,371 |
3,180 |
191 |
6 |
50 |
| Maldandi |
3,225 |
2,990 |
196 |
6.1 |
- |
| Bajra |
|
2,625 |
2,500 |
125 |
5 |
77 |
| Ragi |
|
4,290 |
3,846 |
444 |
11.5 |
50 |
| Maize |
|
2,225 |
2,090 |
135 |
6.5 |
54 |
| Arhar(Tur) |
|
7,550 |
7,000 |
550 |
7.9 |
59 |
| Moong |
|
8,682 |
8,558 |
124 |
1.4 |
50 |
| Urad |
|
7,400 |
6,950 |
450 |
6.5 |
52 |
| Groundnut |
|
6,783 |
6,377 |
406 |
6.4 |
50 |
| Sunflower Seed |
|
7,280 |
6,760 |
520 |
7.7 |
50 |
| Soybean |
Yellow |
4,892 |
4,600 |
292 |
6.3 |
50 |
| Sesamum |
|
9,267 |
8,635 |
632 |
7.3 |
50 |
| Nigerseed |
|
8,717 |
7,734 |
983 |
12.7 |
50 |
| Cotton |
Medium Staple |
7,121 |
6,620 |
501 |
7.6 |
50 |
| Long Staple |
7,521 |
7,020 |
501 |
7.1 |
- |
| *Includes all paid out costs such as those incurred on account of hired human labour, bullock labour/machine labour, rent paid for leased in land, expenses incurred on use of material inputs such as seeds, fertilisers, manures, irrigation charges, depreciation on implements and farm miscellaneous expenses, and imputed value of family labour. |
(By Commoditiescontrol Bureau; +91 98201 3018)
|
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