Business News | Centre Raises MSP for 14 Kharif Crops, Boosts Support for Pulses and Oilseeds
Get latest articles and stories on Business at LatestLY. Cabinet Committee on Economic Affairs, chaired by Narendra Modi, has approved an increase in the Minimum Support Prices (MSP) for 14 kharif crops for the marketing season 2026-27 to ensure remunerative prices for farmers.
New Delhi [India], May 13 (ANI): Cabinet Committee on Economic Affairs, chaired by Narendra Modi, has approved an increase in the Minimum Support Prices (MSP) for 14 kharif crops for the marketing season 2026-27 to ensure remunerative prices for farmers.
According to the government, the highest absolute increase in MSP over the previous year has been approved for sunflower seed at Rs 622 per quintal, followed by cotton at Rs 557 per quintal, nigerseed at Rs 515 per quintal and sesamum at Rs 500 per quintal.
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The government said the revised MSP is in line with the Union Budget 2018-19 announcement of fixing MSP at a level of at least 1.5 times the all-India weighted average cost of production.
The estimated margin for farmers over the cost of production is highest in moong at 61 per cent, followed by bajra and maize at 56 per cent each, and tur/arhar at 54 per cent. For the remaining crops, the margin is estimated at 50 per cent.
The government said it has been promoting the cultivation of crops other than cereals, including pulses, oilseeds and nutri-cereals or Shree Anna, by offering higher MSP for these crops.
The Cabinet also highlighted procurement trends over the years. According to official data, paddy procurement during 2014-15 to 2025-26 stood at 8,418 lakh metric tonnes, compared with 4,590 lakh metric tonnes during 2004-05 to 2013-14.
Procurement of 14 kharif crops during 2014-15 to 2025-26 stood at 8,746 lakh metric tonnes, compared with 4,679 lakh metric tonnes during 2004-05 to 2013-14.
The government said MSP payments to paddy farmers during 2014-15 to 2025-26 amounted to Rs 16.08 lakh crore, compared with Rs 4.44 lakh crore during 2004-05 to 2013-14.
For all 14 kharif crops, MSP payments to farmers during 2014-15 to 2025-26 stood at Rs 18.99 lakh crore, compared with Rs 4.75 lakh crore during 2004-05 to 2013-14. (ANI)
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