MSP of Kharif crops expected to increase by 5-10 percent

04-Jun-2024 01:42 PM

New Delhi. The Central Government may announce a huge increase of 5 to 10 percent in the Minimum Support Price (MSP) of crops produced in the Kharif season of 2024-25 - paddy, pulses, oilseeds, coarse grains and cotton so that farmers can get encouragement to produce more and more of it. By the way, a huge increase in MSP can also increase food inflation.

Counting of votes is taking place today i.e. on 4 June 2024 and on June 5 it will be known which group is forming the government at the Center. For the minimum support price, special attention is paid to the recommendation of the Commission for Agricultural Costs and Prices (CACP).

According to informed sources, the support price of pulses crops like tur and tuvar may increase by 8-10 percent, but there may be a slight increase in the MSP of moong as it has already increased heavily and moong has the highest support price among pulses crops. Due to the huge difference in the demand and supply of pulses, the price has become very high.

As far as oilseed crops are concerned, the minimum support price of soybean for the 2023-24 season was fixed at Rs 4600 per quintal, which was 7 percent more than the 2022-23 season. Its MSP is also expected to increase significantly for the 2024-25 season.

According to official sources, at present the production of pulses is mainly limited to 50-55 districts of the country.

If there is a good increase in the support price, then farmers in non-traditional districts can also get encouragement to cultivate it.

As far as paddy is concerned, there can be a normal increase of up to 5 percent in its support price, whereas in the 2023-24 season it was increased by 7 percent to Rs 2183 per quintal.