Page 2 - Minimum Support Price

Festival season lifts retail auto sales by 12%, two-wheelers top demand

Dealers' association expects inventory to reduce, helped by sales during weddings

Centre procures 6.06 mn tonne paddy in Punjab, Rs 12,200 cr paid to farmers

The Centre on Tuesday said it has procured 60.63 lakh tonnes of paddy so far in Punjab and it has already made payments of Rs 12,200 crore to farmers in the state as of October 28. In an official statement, the union food ministry said, "as of 28th October 2024, a total quantity of 65.75 lakh tonnes of paddy has arrived in the mandis out of which 60.63 lakh tonnes have been procured by state agencies and Food Corporation of India (FCI)." An amount of Rs 12200 crore has been released to the farmers in Punjab directly to bank accounts as of 28th October, it added. The procurement of paddy in Kharif Marketing Season (KMS) 2024-25 commenced on October 1, 2024, and 2,927 designated mandis including 1000 temporary yards have been opened throughout Punjab for smooth procurement of paddy. The Centre has fixed an estimated target of 185 lakh tonnes for this ensuing KMS 2024-25. The paddy is being purchased at a MSP (minimum support price) of Rs 2320 per quintal as decided by the Centre for

Chhattisgarh govt to start paddy procurement at MSP from November 14

The state has set a new record target to procure 16 mt of paddy at MSP in the kharif marketing season 2024-25 compared to the procurement of 14.5 mt paddy in the last kharif marketing season

Centre approves MSP hikes for rabi crops for marketing season 2025-26

Support price of wheat increased by nearly 7 per cent and fixed at Rs 2,425 per quintal

Minimum support price: Need for improved methodology, institutional reforms

There are two contentious questions related to MSP. First, how is the MSP fixed? Second, how to ensure that farmers get the recommended MSP?

Govt removes MEP on basmati rice, onion; tightens stock limit on wheat

The MEP of basmati rice was first imposed last year at $1,200 per tonne before it was lowered to $950 per tonne

Centre positive on increasing support prices of soybean, cotton: Ajit Pawar

The deputy CM was speaking at a meeting with farmer representatives in Mantralaya (state secretariat) in south Mumbai

Govt to procure soyabean at MSP in Madhya Pradesh: Agriculture Minister

Union Agriculture Minister Shivraj Singh Chouhan on Wednesday said the government will procure soyabean at a minimum support price in Madhya Pradesh amid a fall in the rates below the MSP level. MSP of soyabean (yellow) is fixed at Rs 4,892 per quintal for 2024-25. The procurement will be carried out under the Price Support Scheme (PSS) implemented by the agriculture ministry. "MP farmers are worried about soyabean prices ruling below MSP. We received a proposal from the MP government on procurement yesterday night. We have approved it," Chouhan told reporters. Soyabean will be purchased at an MSP in Madhya Pradesh also, the minister said, asserting that the farming community is a priority for the government and he believes serving farmers is like worshipping God. Earlier, the Centre had given permission for procurement of soyabean at MSP rate in Maharasthra and Karnataka, he added.

SC constitutes committee to resolve protesting farmers' grievances

Observing that farmers' protest should not be politicised, the Supreme Court on Monday constituted a high-powered committee headed by former Punjab and Haryana High Court judge Justice Nawab Singh to amicably resolve the grievances of farmers agitating at the Shambhu border. A bench of Justices Surya Kant and Ujjal Bhuyan directed the five-member committee to convene its first meeting within a week and reach out to the agitating farmers to persuade them to immediately remove their tractors, trolleys etc. from the Shambhu border between Punjab and Haryana to provide relief to commuters. Both the Punjab and Haryana governments will be free to give suggestions to the committee, it added. The farmers are agitating over a plethora of demands including legal guarantee of minimum support price (MSP) for their produce. "We hope and trust that one of the major demands of the agitating farmers regarding constitution of a neutral high-powered committee having been accepted with the consent of

Haryana Cabinet gives nod to buy 10 more crops at minimum support price

The Haryana Cabinet on Monday gave approval to the proposal of buying 10 more crops at the minimum support price. This came a day after Chief Minister Nayab Singh Saini announced at 'Vijay Shankhnad' rally in Kurukshetra that the state government would buy all crops at MSP. Besides this, he had also announced waiving outstanding canal water irrigation charges. These announcements came ahead of the Haryana Assembly polls due later this year. Addressing the media after chairing a Cabinet meeting here on Monday, CM Saini said the Cabinet has given its nod to the proposal of buying crops at the MSP. The state government is already buying 14 crops at the MSP. Saini said 10 more crops, including 'ragi', soybean, 'jowar', and 'moong', will be bought by the Haryana government at the MSP. This move will boost crop diversification, said the chief minister. With this, the state government will buy a total 24 crops in Haryana at the MSP, he said. Haryana will become the first state in the

Shivraj Singh Chouhan lays down 6 priorities for growth of agri sector

The minister also said the agriculture sector was ignored, and priorities were misplaced during the Congress rule

Govt likely to decide on increasing sugar MSP in coming days: Food secy

The government is likely to take a decision on increasing the minimum selling price (MSP) of sugar within the next few days, Union Food Secretary Sanjeev Chopra said on Saturday. Speaking on the sidelines of a conference organised by All India Sugar Trade Association (AISTA), Chopra said, "We are discussing the MSP (proposal). In the coming days, we will hopefully take a call." MSP of sugar has remained unchanged at Rs 31 per kg since 2019, despite annual hikes in the fair and remunerative price (FRP) paid to sugarcane farmers. Industry bodies, including National Federation of Cooperative Sugar Factories (NFCSF), have urged the government to raise the MSP to at least Rs 42 per kg to help mills sustain operations amid rising production costs. Chopra noted that sugar production for the 2024-25 season (October-September) looks promising, with the area sown to sugarcane increasing to 58 lakh hectare so far from 57 lakh hectare during the same period last year. For the 2023-24 season,

Govt to buy all masur, urad, tur dal produced by farmers: Agri minister

The government will procure the entire production of tur, urad, and masur dal from farmers, Agriculture Minister Shivraj Singh Chouhan said in Rajya Sabha on Friday. Through e-Samridhi platform, on which farmers have to get themselves registered, the government will make the procurement, he said. "The government will procure all tur, urad and masur dal produced by farmers," Chauhan said, while replying to a supplementary question in the Rajya Sabha. The minister further said under the leadership of Prime Minister Narendra Modi, the government had the highest purchase under MSP from farmers. Referring to data of the previous UPA government, Chauhan said between 2003-2004 and 2013-14, only 45 crore metric tonnes were purchased under the Minimum Support Price (MSP). While the present NDA government has procured a total of 69.18 crore metric tonnes between 2014-15 and 2023-24. He alleged that the opposition was doing politics and said the Swaminathan committee had recommended 50 per

On Budget table: 100% MSP for oilseeds, pulses; Centre may tweak PM-AASHA

India's dependence on imports for meeting its domestic demand for edible oils has increased during the last few decades and roughly 60 percent of domestic consumption is met through imports

Farmer groups want CACP to declare MSP at 50% above C2 production cost

Presently, MSPs are fixed at 50 percent more than the A2+FL cost of production

PM to release Rs 20K cr for farmers during his Varanasi visit on June 18

Prime Minister Narendra Modi will visit his parliamentary constituency Varanasi on June 18 for the first time after assuming office for a third consecutive term, during which he will release the 17th installment of PM-KISAN scheme amounting to over Rs 20,000 crore for 9.26 crore beneficiary farmers across the country. Modi will also confer certificates to more than 30,000 members of Self Help Groups (SHGs) who have been trained as 'Krishi Sakhis' to work as para-extension workers, supporting fellow farmers with agricultural practices. Briefing the media, Union Agriculture Minister Shivraj Singh Chouhan highlighted the government's commitment to the agriculture sector. "Agriculture has always been a priority for the PM in his last two tenures. He took several key decisions in the interest of farmers. After taking oath as PM, Modi ji first signed a file related to the release of the 17th installment of the PM-KISAN scheme," Chouhan said. Launched in 2019, PM-KISAN is a direct benefit

TMC MPs to meet agitating farmers in Haryana, to convey Didi's message

A five-member delegation of Trinamool Congress MPs will visit Haryana on Monday to meet farmers who have been demonstrating to press for their demands that include a legal guarantee for minimum support price (MSP) for crops. "Will convey Didi's (TMC supremo Mamata Banerjee's) message to them that we are with you and the NDA govt led by Modi at the Centre must meet the demands," the party said in a statement. The five-member team comprising TMC national spokesperson Derek O'Brien, Mohammed Nadimul Haque, Dola Sen, Sagarika Ghose and Saket Gokhale is likely to meet the agitating peasants near Khanauri on the border of Haryana and Punjab. Security forces had stopped the farmers at Khanauri from marching to Delhi as part of their agitation on February 13.

MSPs ensured minimum return of 50% over production cost in 2023-24: RBI

The minimum support prices (MSPs) for both kharif and rabi seasons 2023-24 ensured a minimum return of 50 per cent over the cost of production for all crops, said the Reserve Bank's Annual Report released on Thursday. The overall public stock of foodgrains as on March 31, 2024 stood at 2.9 times the total quarterly buffer norm, the report said. On November 29, 2023, the government extended the scheme of free distribution of foodgrains under the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) for five more years, effective from January 1, 2024. The report, which is a statutory report of RBI's central board of directors, noted that the agriculture and allied activities faced headwinds from the uneven and deficient south-west monsoon (SWM) rainfall coinciding with strengthening El Nino conditions. The overall SWM rainfall in 2023 (June-September) was 6 per cent below long period average (LPA) at the all-India level. As per the second advance estimates, the production of kharif and r

UP govt ramps up wheat procurement centres to achieve 6 MT target

Payment for targeted purchase to cross Rs 13,000 crore

BS Manthan: Explore contract farming, MSP law no solution, says agri expert

Business Standard Manthan 2024: Agri economist Ashok Gulati, while discussing the agriculture sector, suggested why alternative policy options such as contract farming are better than MSP