Gujarat government to procure groundnut, cotton, pulses as prices dip below MSP

Government fixed Rs 4,120 per quintal MSP of groundnut crop for the year 2016-17 while currently it is ruling at Rs 3,500-3,600 per quintal

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As the prices of key agri-commodities such as groundnut, cotton and pulses have been ruling below the minimum support price (MSP), the government of Gujarat has decided to procure these commodities to support the farmers after the Diwali festival. Initially, the state government will start procurement of groundnut from the farmers at the MSP rate in the state and will allot Rs 100 crore for it from emergency fund. Earlier, in 2013, the state government had procured about 100,000 tonnes groundnut from the farmers as prices decreased below MSP due to bumper production. The ...