Centre hikes MSP’s for Rabi Crops

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New Delhi: The Central government has approved hikes for Minimum Support Price (MSP) for Rabi crops. The hike was proposed 2 weeks earlier and later Cabinet Committee on Economic Affairs (CCEA) mandated a proposal for Rabi Marketing Season in 2022. This Wheat, which is grown by a maximum number of farmers during the Rabi season, will now price ₹ 2,015 per quintal, this is an increase of ₹ 40 per quintal and overall by 2%.

India is the world’s second-biggest wheat consumer. The government sets new prices each year to protect domestic farmer’s distress over sales and to safeguard from emergencies of food.

According to central data, the centre has procured over 43 million tonnes of wheat during the previous marketing season. The Centre has also hiked the minimum support price (MSP) for mustard seeds to ₹5,050 per quintal, with an increase of ₹400 for the current crop year. The decision has been taken to boost crop production as well as the income of farmers.

In the case of safflower a.k.a. Kusum, prices have been increased to ₹114 per quintal, in comparison to last year. The increase in MSPs for Rabi crops for the next marketing season 2022-2023 lines with the Union Budget 2018-19 announcement of fixing the MSPs at a level of at least 1.5 times of the of earlier production. The government aims to increase the wages of farmers twice.

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