New Delhi3 hours ago
- Copy link
Union Minister Ashwini Vaishnav held a press conference after the Cabinet meeting.
The central government on Wednesday announced the minimum support price (MSP) of 14 kharif crops. It includes ragi, millet, maize and cotton. Union Information and Broadcasting Minister Ashwini Vaishnav said that the new MSP of paddy has been fixed at Rs 2,300, which is Rs 117 higher than the previous MSP.
The new MSP of cotton will be 7,121. The new MSP for its second variant will be Rs 7,521, which is Rs 501 more than before. Ashwini Vaishnav said that 2 lakh new warehouses will be built in the country. 2 lakh crore rupees will be spent on the new MSP. This is Rs 35 thousand crore more than the previous crop season.
Ramtil’s MSP Hike Highest, View Full List
| Crop | MSP 2024-25 | MSP 2023-24 | How much did MSP increase? |
| Paddy (Common) | 2300 | 2183 | 117 |
| Paddy (A Grade) | 2320 | 2203 | 117 |
| Sorghum (Hybrid) | 3371 | 3180 | 191 |
| sorghum (sorghum) | 3421 | 3225 | 196 |
| millet | 2625 | 2500 | 125 |
| ragi | is 4290 | 3846 | 444 |
| Corn | 2225 | 2090 | 135 |
| Tuvar/Arhar | 7550 | 7000 | 550 |
| Dumb | 8682 | 8558 | 124 |
| half | 7400 | 6950 | 450 |
| Peanuts | 6783 | 6377 | 406 |
| Sunflower | 7280 | 6760 | 520 |
| soybeans | 4892 | 4600 | 292 |
| Sesame | 9267 | 8635 | 632 |
| Ramatil | 8717 | 7734 | 983 |
| Cotton (Middle Staple) | 7121 | 6620 | 501 |
| Cotton (Long Staple) | 7521 | 7020 | 501 |
Figures are in rupees per quintal
What is MSP or Minimum Support Price?
Minimum support price is the guaranteed price that farmers get for their crops. Even though the prices of those crops are low in the market. The rationale behind this is that farmers should not be affected by fluctuations in crop prices in the market. They should continue to get the minimum price.
The government fixes the MSP before each crop season on the recommendation of CACP i.e. Commission for Agricultural Cost and Price. If a crop has a bumper production and its market price is low, MSP acts as a fixed assured price for them. In a way, it acts like an insurance policy to protect farmers when prices fall.
MSP covers 23 crops:
- 7 types of grains (paddy, wheat, maize, millet, sorghum, ragi and barley)
- 5 types of pulses (Channa, Arhar/Tuwer, Udd, Moong and Lentil)
- 7 Oilseeds (rapeseed-mustard, groundnut, soybean, sunflower, sesame, safflower, black seed)
- 4 cash crops (cotton, sugarcane, copra, jute)
