Cabinet Approves Minimum Support Price Hike For Rabi Crops; Shares List

Mumbai: The Cabinet has approved an increase in minimum support prices (MSP) for all mandated rabi crops for marketing season 2022-23.

The highest absolute increase in MSP over the previous year has been recommended for masoor (lentils) and rapeseed and mustard at Rs 400 per quintal, followed by gram at Rs 130 per quintal. In RMS 2022-23, the MSP of rapeseed and mustard will be Rs 5,050 per quintal, while for masoor (lentil) Rs 5,500 and gram will be Rs 5,230 per quintal.

The MSP of safflower has been increased by Rs 114 per quintal to Rs 5,441, while the MSP for wheat and barley has been increased by Rs 40 and Rs 35 per quintal, respectively. The MSP of wheat will be Rs 2,015 per quintal and Rs 1,635 for one quintal of barley.

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“The increase in MSP for Rabi crops for RMS 2022-23 is in line with the announcement of the Union Budget 2018-19, which announced to fix the MSP at a level of at least 1.5 times the all India weighted average cost of production fair Has been. Remuneration for farmers,” the government said in a release

The expected return to farmers on their cost of production is estimated to be highest in the case of wheat and rapeseed and mustard at 100 per cent, followed by pulses at 79 per cent, gram at 74 per cent; It states that barley is at 60 per cent and safflower at 50 per cent.

The government said it has made concerted efforts over the years to realign the MSP in favor of oilseeds, pulses and coarse cereals to encourage farmers to shift to larger area under these crops and to correct the demand. Best techniques and farming practices can be adopted for – Supply.

The increase in MSP along with the recently announced National Mission on Edible Oils-Oil Palm will not only aid in expanding area and productivity but also benefit the farmers by increasing their income and generating additional employment.

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