The government of Uttar Pradesh has announced a minimum support price (MSP) of Rs 1,450 per quintal for wheat for financial year 2014-15. The state has declared Rs 1,450 per quintal as MSP for wheat for this Rabi season 2014-15. The price has been fixed to benefit farmers.
Further, according to data compiled by government officials, the inventory of wheat in government warehouses stood at 30.10 million tonnes (MT) as of November 01, 2014. This was more than double the official target set by the government which raises the prospect of overseas shipments from the world’s second-largest producer.