The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has approved the minimum support prices (MSP) for all mandated Rabi crops for marketing season 2024-25.
“Government has increased the MSP of Rabi crops for marketing season 2024-25, to ensure remunerative prices to the growers for their produce. The absolute highest increase in MSP has been approved for lentil (masur) at Rs.425 per quintal followed by rapeseed and mustard at Rs.200 per quintal. For wheat and safflower, an increase of Rs.150 per quintal each has been approved. For barley and gram, an increase of Rs.115 per quintal and Rs.105 per quintal respectively, has been approved,” the Ministry of Agriculture & Farmers Welfare informed.
Minimum Support Prices for all Rabi crops for Marketing Season 2024-25 (Rs.per quintal)
| Crops | MSP RMS 2023-24 | MSP RMS 2024-25 | Cost* of production RMS 2024-25 | Increase in MSP (Absolute) | Margin over cost (in per cent) |
| Wheat | 2125 | 2275 | 1128 | 150 | 102 |
| Barley | 1735 | 1850 | 1158 | 115 | 60 |
| Gram | 5335 | 5440 | 3400 | 105 | 60 |
| Lentil
(Masur) |
6000 | 6425 | 3405 | 425 | 89 |
| Rapeseed
& Mustard |
5450 | 5650 | 2855 | 200 | 98 |
| Safflower | 5650 | 5800 | 3807 | 150 | 52 |
*Refers to cost which includes all paid-out costs such as those incurred on account of hired human labour, bullock labour/machine labour, rent paid for leased in land, expenses incurred on use of material inputs like seeds, fertilisers, manures, irrigation charges, depreciation on implements and farm buildings, interest on working capital, diesel, electricity for operation of pump sets, miscellaneous expenses and imputed value of family labour (As per Government of India).
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The Government is promoting crop diversification towards oilseeds, pulses and shree anna/millets to enhance food security, increase farmers’ income, and reduce dependence on imports. Besides the Price Policy, the Government has undertaken various initiatives such as the National Food Security Mission (NFSM), Pradhan Mantri Krishi Sinchayee Yojana (PMKSY), and the National Mission on Oilseeds and Oil Palm (NMOOP) with the objective to provide financial support, quality seeds to encourage farmers to cultivate oilseeds and pulses.
