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The Centre has raised the minimum support price (MSP) of wheat by Rs 50 a quintal to Rs 1,450 a quintal for the 2015-16 crop marketing season, and that of mustard by an equal amount to Rs 3,100 a quintal.
Wheat sowing begins in October and harvesting starts from April. The government procures wheat from farmers during April-June.
"The prices are on the recommendations of the Commission for Agricultural Costs and Prices and will help in higher production through assured remunerative prices to the farmers," said an official statement issued after a Cabinet Committee on Economic Affairs meeting.
The MSP of masur (lentil) saw the highest increase, Rs 125, taking the it from Rs 2,950 to Rs 3,075 a quintal.
Wheat and mustard are the main crops grown during the rabi season. Among others, the MSP of gram has been raised by Rs 75 to Rs 3,175 a quintal, while that of safflower has been upped by Rs 50 a quintal to Rs 3,050.
The National Agricultural Cooperative Marketing Federation, National Cooperative Consumers' Federation, Central Warehousing Corporation and Small Farmers Agri Business Consortium will be the nodal agencies for procuring oilseeds and pulses if the market price drops below the MSP, the statement added.
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