New Delhi2 minutes ago
- copy link
After the cabinet meeting, Union Minister Ashwini Vaishnav held a press conference.
The Central Government on Wednesday announced the Minimum Support Price (MSP) of 14 Kharif crops. It includes ragi, millet, millet, maize and cotton. Union Information and Broadcasting Minister Ashwini Vaishnav said that the new MSP of paddy has been fixed at Rs 2,300, which is Rs 117 more than the previous MSP.
The new MSP of cotton will be 7,121. The new MSP for its second variety will be Rs 7,521, which is Rs 501 more than before. Ashwini Vaishnav said that 2 lakh new warehouses will be built in the country. Rs 2 lakh crore will be spent on the new MSP. This is Rs 35 thousand crore more than the previous crop season.
Highest increase in MSP of Ramtil, see full list
| Crop | MSP 2024-25 | MSP 2023-24 | How much did MSP increase? |
| Paddy (normal) | 2300 | 2183 | 117 |
| Paddy (A grade) | 2320 | 2203 | 117 |
| Jowar (Hybrid) | 3371 | 3180 | 191 |
| sorghum (maldandi) | 3421 | 3225 | 196 |
| Millet | 2625 | 2500 | 125 |
| ragi | 4290 | 3846 | 444 |
| Maize | 2225 | 2090 | 135 |
| Tur/Arhar | 7550 | 7000 | 550 |
| Moong | 8682 | 8558 | 124 |
| urad | 7400 | 6950 | 450 |
| Groundnut | 6783 | 6377 | 406 |
| Sunflower | 7280 | 6760 | 520 |
| Soybean | 4892 | 4600 | 292 |
| mole | 9267 | 8635 | 632 |
| Ramtil | 8717 | 7734 | 983 |
| cotton (middle staple) | 7121 | 6620 | 501 |
| cotton (long staple) | 7521 | 7020 | 501 |
Figures in rupees per quintal
What is MSP or Minimum Support Price?
Minimum Support Price is the guaranteed price that farmers get for their crops. Even if the prices of that crop are low in the market. The logic behind this is that the fluctuations in crop prices in the market should not affect the farmers. They should continue to get the minimum price.
The government decides the MSP before every crop season on the recommendation of CACP i.e. Commission for Agricultural Costs and Prices. If there is a bumper production of a crop and its market prices are low, then MSP acts as a fixed assured price for them. In a way, it works like an insurance policy to protect farmers when prices fall.
MSP includes 23 crops:
- 7 types of grains (paddy, wheat, maize, millet, jowar, ragi and barley)
- 5 types of pulses (gram, arhar/tur, urad, moong and lentils)
- 7 Oilseeds (rapeseed-mustard, groundnut, soybean, sunflower, sesame, safflower, nigerseed)
- 4 commercial crops (cotton, sugarcane, copra, raw jute)
The news is updating…
