Cabinet approves Minimum Support Prices (MSP) for Rabi crops for marketing season 2024-25

Cabinet approves Minimum Support Prices (MSP) for Rabi crops for marketing season 2024-25

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.

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