Govt may hike rabi crops’ MSP by 2-7%
NEW DELHI : The government may raise the minimum support price (MSP) of six rabi or winter crops, with increases ranging from 2% to 7%, for the 2024-25 marketing season as it gears up for high-stakes general and state assembly elections, two officials said. The most substantial hikes are expected for wheat and lentil (masur), the officials said, requesting anonymity.
MSP serves as a crucial safety net for farmers by guaranteeing them a minimum income regardless of market prices. It also helps ensure food security by encouraging farmers to cultivate certain crops, helping stabilize prices of staples such as wheat, rice and lentils.
Last year, MSP for wheat, the main winter crop, was raised by 5.5% from the previous year to ₹2,125 per quintal (100 kg), while the minimum price of masur, one of the two key winter pulses, witnessed a significant 9.1% hike to ₹6,000 per quintal. “MSP in the next season could be increased by around 7% for wheat and masur to ₹2,275-2,300 and ₹6,425-6,450 a quintal, respectively, compared to the current year so that FCI (Food Corporation of India), NAFED (National Agricultural Cooperative Marketing Federation of India Ltd) and NCCF (National Cooperative Consumers’ Federation of India Ltd) can purchase a substantial quantity of the grain and the pulse from farmers to boost the stock," one of the officials said on condition of anonymity.
The MSP increases for barley and chana (Bengal gram) are expected to remain consistent with the previous year. While chana may see a modest 2% increase to ₹5,440-5,475 per quintal, barley could see a 6.6% hike to ₹1,850-1,900 per quintal.
The Centre raised MSP of chana by 2% and barley by 6.1% for the 2023-24 rabi marketing season. For major oilseeds such as
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