India: Centre hikes wheat MSP by Rs 160 to Rs 2,585 per quintal; sets rabi procurement target at 297 LMT

by lentil (masur) with Rs 300, rapeseed and mustard with Rs 250, gram with Rs 225, and barley with Rs 170 per quintal. Announcing the decision after the Cabinet meeting, Union Minister for Information and Broadcasting Ashwini Vaishnaw said, “The MSP hike will channel a total of Rs 84,263 crore directly to farmers. The procurement target for the 2026-27 Rabi season has been set at 297 lakh metric tonnes.” Officials stated that the hike aligns with the Union Budget 2018-19 mandate to fix MSP at least 1.5 times the all-India weighted average cost of production. The projected margin over production cost stands at 109% for wheat, 93% for rapeseed and mustard, 89% for lentil, 59% for gram, 58% for barley, and 50% for safflower. The move is expected to ensure remunerative prices for farmers while encouraging crop diversification. In another significant step, the Cabinet cleared a mission to achieve self-reliance in pulses production to reduce the country’s import dependency. The mission, ...