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CCEA hikes minimum support price of key kharif crops

26 Jun 2014 Evaluate

The Cabinet Committee on Economic Affairs (CCEA) has approved the minimum support price (MSP) of kharif crops for 2014-15 crop year (July-June). The MSP of paddy has been increased by Rs 50 per quintal to Rs 1,360 while MSP of paddy of Grade ‘A’ variety has been raised by Rs 55 to Rs 1,400 a quintal.  This step has been taken by the government in order to encourage farmers to cultivate rice.

The government also announced an increase of Rs 50 in the support price of sunflower seed to Rs 3,750 a quintal, besides a Rs 100 hike in MSP of sesamum and nigerseed at Rs 4,600 and Rs 3,600 a quintal respectively. It has approved hike in jowar MSP by Rs 30 to Rs 1,530 a quintal for the hybrid variety and Rs 1,550 a quintal for the maldandi variety for this year. Ragi’s MSP was raised by Rs 50 to Rs 1,550 a quintal.

The MSP for Cotton has been increased by Rs 50 per quintal to Rs 3,750 for medium staple, and for long staple to Rs 4,050 while for pulses, the CCEA approved Rs 50 hike in the support price of tur and urad to Rs 4,350 a quintal each, while Moong MSP was raised by Rs 100 to Rs 4,600 a quintal.

Further, the MSP of bajra and maize was recommended to be retained by the Agriculture Ministry at Rs 1,250 and Rs 1,310 a quintal respectively. It had also proposed keeping the MSP of groundnut and soyabean unchanged for this year at Rs 4,000 and Rs 2,500- 2,560 a quintal respectively.

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