India: Minimum support price for paddy hiked by Rs 100 to Rs 2,040 per quintal for 2022-23; other kharif crops MSP also hiked
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Other Pea & Pulse
Published Jun 10, 2022
Tridge summary
India hiked the minimum support price for kharif crops by 4-9 per cent for the 2022-23 crop year, with paddy MSP being raised by Rs 100 to Rs 2,040 per quintal. The Cabinet Committee on Economic Affairs (CCEA) approved the increase in MSPs for all 14 kharif (summer) crops for 2022-23 crop year.
Original content
“The MSP of kharif crops has been increase in the range of Rs 92 to Rs 523 per quintal and this will help farmers fetch 50-85 per cent profits on cost of production,” Agriculture Minister Narendra Singh Tomar tweeted after the cabinet decision. The maximum hike has been given in sesamum at Rs 523 per quintal, while the lowest Rs 92 per quintal is in case of maize. In percentage terms, the maximum increase is in soybean MSP at 9 per cent, while support price of bajra has been raised by 4 per cent for this year. As per the CCEA decision, the MSP of paddy and bajra has been increased by Rs 100 per quintal, while tur, urad and groundnut MSP has been hiked by Rs 300 per quintal each for the 2022-23 crop year. The MSP of common grade variety of paddy has been increased to Rs 2,040 per quintal for 2022-23 crop year from Rs 1,940 per quintal in the previous year. The support price for ‘A’ grade variety of paddy has been increased to Rs 2,060 per quintal from Rs 1,960. Among commercial ...
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