Agri Business

CCEA approves new MSP rate for rabi crops, wheat floor price goes up to Rs 1925

Our Bureau New Delhi | Updated on October 23, 2019 Published on October 23, 2019

File photo   -  bloomberg

The Cabinet Committee on Economic Affairs (CCEA) on Wednesday decided to increase to the minimum support price for winter crops for the forthcoming rabi marketing season (2020-21) and the floor price of wheat, the major rabi crop, went up by 4.6 per cent to Rs 1925 a quintal from Rs 1840 in the previous season.

The highest increase in MSP witnessed by lentil (masur) whose floor price saw a 7.3 per cent increase to Rs 4800 a quintal as compared to last year, according to an official statement. This was followed by barley whose MSP went by 5.9 per cent to Rs 1525 a quintal as compared to the last season.

The government said the increase in MSP for rabi crops was in line with the principle of fixing MSPs at a level of at least 1.5 times of the all India weighted average cost of production. Wheat farmers, for instance, would 109 per cent the production cost, it claimed.

The floor price for mustard and rapeseed was increased by Rs 225 per quintal to Rs 4425, while that of gram went up by 5.5 per cent to Rs 4875 a quintal over the previous season. A similar increase was also witnessed by safflower whose floor price rose to Rs 5215 from Rs 4945 a quintal in 2018-19.

MSP for rabi crops of 2019-20

Crops

MSP in 2018-19

Rs per quintal

MSP in 2019-20

Rs per quintal

Increase

Rs

Wheat

1840

1925

85

Barley

1440

1525

85

Mustard & Rapeseed

4200

4425

225

Gram

4620

4875

255

Safflower

4945

5215

270

Lentil

4475

4800

325

Published on October 23, 2019
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