
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 |