Stock in hand, govt marginally hikes MSP of paddy, pulses for kharif season

The government's rice and wheat stocks in the central pool as of June 1 was estimated to be around 74.14 million tonnes

Saddled with large stock of cereal and pulses, the government on Wednesday marginally increased the minimum support price (MSP) of paddy, along with arhar, moong, and urad for 2019-20 kharif season.

The reason for increasing the MSP could also be that the wholesale prices of pulses — especially arhar — is already higher than it.

According to an official statement, the MSP of common-grade paddy was raised by 3.71 per cent to Rs 1,815 a quintal from Rs 1,750 per quintal. For arhar, the increase was 2.2 per cent from Rs 5,675 a quintal to Rs 5,800 per quintal.

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