Govt hikes wheat MSP by Rs 40 to Rs 2,015 per quintal for 2021-22 crop year
The government has increased the MSP of Rabi crops for RMS 2022-23, to ensure that farmers get remunerative prices for their produce.
The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi has approved an increase in the minimum support price for wheat by Rs 40 to Rs 2,015 per quintal and for mustard seed by Rs 400 to Rs 5,050 per quintal for the current crop year. The government has increased the MSP of Rabi crops for RMS 2022-23, to ensure that farmers get remunerative prices for their produce.
The highest absolute increase in MSP over the previous year has been recommended for lentil (masur) and rapeseeds and mustard (Rs 400 per quintal each) followed by gram (Rs 130 per quintal).
The minimum support price or MSP is the rate at which the government buys the grain from farmers. The MSPs for 23 crops are fixed by the government grown in both kharif and rabi seasons.
The expected returns to farmers over their cost of production are estimated to be highest in case of wheat and rapeseed and mustard (100% each), followed by lentil (79%); gram (74%); barley (60%); safflower (50%).
The cost of production of wheat is estimated at Rs 1,008 per quintal.
During 2021-22 rabi marketing season, the government procured record wheat of over 43 million tonne.
(With inputs from Press Information Bureau)
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