The government has hiked Minimum Support Prices (MSP) for all mandated Kharif Crops for Marketing Season 2024-25. This move aimed to ensure remunerative prices to the growers for their produce. The MSP of paddy (Common) has been raised by Rs 117 to Rs 2,300 per quintal. Jowar, Bajra, Ragi and Maize’s MSP have been increased to Rs 3371 (Jowar Hybrid) - 3421 (Jowar Maldandi), Rs 2625, Rs 4290 and Rs 2225 per quintal respectively.
In front of Pulses, Tur /Arhar’s MSP hiked to Rs 7550 per quintal for Marketing Season 2024-25 from Rs 7000 per quintal from last year. MSP of Moong has been increased by Rs 124 to Rs 8682 per quintal.
The highest absolute increase in MSP over the previous year has been recommended for oilseeds viz. nigerseed Rs 983 per quintal followed by sesamum Rs 632 per quintal. The MSP for cotton was fixed at Rs 7,121 for the medium staple variety and Rs 7,521 for the long staple variety, an increase of Rs 501 for both.
The increase in MSP for Kharif Crops for Marketing Season 2024-25 is in line with the Union Budget 2018-19 announcement of fixing the MSP at a level of at least 1.5 times of the All-India weighted average cost of production, the expected margin to farmers over their cost of production are estimated to be highest in case of bajra (77%) followed by tur (59%), maize (54%) and urad (52%). For rest of the crops, margin to farmers over their cost of production is estimated to be at 50%.
In the recent years, Government has been promoting the cultivation of crops, other than cereals such as pulses and oilseeds, and Nutri-cereals/ Shree Anna, by offering a higher MSP for these crops. As per the third Advance Estimates of production for 2023-24, total foodgrain production in the country is estimated at 3288.6 Lakhs Metric Ton (LMT), and oilseeds production is touching 395.9 LMT. During 2023-24, kharif production of rice, pulses, oilseeds and nutri-cereals/Shree Anna and cotton is estimated to be 1143.7 LMT, 68.6 LMT, 241.2 LMT, 130.3 LMT and 325.2 lakh bales, respectively.
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