Dinesh K Sharma, Editor

Cabinet approves higher minimum support prices for 2022-23 kharif season

Cabinet approves higher minimum support prices for 2022-23 kharif season

New Delhi: India’s cabinet on June 8 approved a hike in minimum support prices for 17 crops for the 2022-23 kharif marketing season, Anurag Singh Thakur, the minister for information said.

The approved rates are in line with the principle of fixing the MSPs at a level of at least 1.5 times of the all India weighted average cost of production, an official said.

MSP refers to a state-set price at which government agencies procure select crops from farmers to shield them from price volatilities.

CROP INCREASE IN MSP (RS/QUINTAL) MSP 2022-23 (RS/QUINTAL)
Paddy (common) 100 2040
Paddy (grade A) 100 2060
Jowar (hybrid) 232 2970
Jowar (Maladandi) 232 2990
Bajra 100 2350
Ragi 201 3578
Tur 300 6600
Moong 480 7755
Urad 300 6600
Groundnut 300 5850
Sunflower seed 385 6400
Soyabean (yellow) 350 4300
Sesamum 523 7830
Nigerseed 357 7287
Maize 92 1962
Cotton (medium staple) 354 6080
Cotton (long staple) 355 6380