New Delhi: The minimum support price (MSP) for Rabi crops were hiked by the Centre on September 8. Wheat, grown by maximum number of farmers during the Rabi agricultural season, will now fetch Rs 2,015 per quintal — an increase of Rs 40 per quintal.
The hike was approved by the Cabinet Committee on Economic Affairs (CCEA), which fixed the prices of all mandated crops for Rabi Marketing Season (RMS) 2022-23.
The highest absolute increase in MSP over the previous year has been recommended for lentil (masur), along with rapeseeds and mustard (Rs 400 per quintal each), followed by gram (Rs 130 per quintal).
In case of safflower, there has been an increase of Rs 114 per quintal, in comparison to last year. The support price for barley has been raised by Rs 35 per quintal.
The expected returns to farmers over their cost of production are estimated to be highest in case of wheat and rapeseed & mustard (100 percent each), followed by lentil (79 percent), gram (74 percent), barley (60 percent), and safflower (50 percent), the government said in a press release.
Wheat MSP, which has been raised to Rs 2,015 per quintal for this crop year, stood at Rs 1,975 per quintal in the 2020-21 crop year.
The cost of production of wheat is estimated at Rs 1,008 per quintal, the government said.
“The increase in MSP for Rabi Crops for RMS 2022-23 is in line with the Union Budget 2018-19 announcement of fixing the MSPs at a level of at least 1.5 times of the all-India weighted average cost of production, aiming a reasonably fair remuneration for the fanner,” it added.AGENCIES