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Cabinet Increases MSP for Cotton Despite Decrease in Production in Past Few Years

Updated Jun 2, 2020
The Cabinet Committee on Economic Affairs (CCEA) in its meeting on June 1, chaired by Prime Minister Narendra Modi has approved the increase in Minimum Support Price (MSP) of 14 Kharif crops for the marketing season 2020-21. “The Cabinet meeting on June 1, approved revised minimum support price for 14 Kharif crops. The new prices will provide farmers 50-83 per cent more than cost,” said Union Agriculture Minister Narendra Singh Tomar in a cabinet briefing. The government in its official press release said that the increase in MSP of Kharif crops for the marketing season 2020-21 is to ensure remunerative prices for farmers produce in next season. Among 14 MSP proposed Niger Seed price increased by Rs 755 per quintal followed by the Seasmum which increased by Rs 379 per quintal, Urad by Rs 300 per quintal and cotton by Rs 275 per quintal. However, the Cotton Association of India(CAI) in its estimates released in April, predicted that the cotton crop for the season 2019-2020 to ...
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