Photo used for representational purpose only. The Union Cabinet approved ₹143 hike in paddy MSP to ₹2,183/quintal for 2023-24. File
| Photo Credit: Nagara Gopal
The Cabinet has decided to hike the minimum support price or MSP for many agricultural products for the Kharif marketing season at a rate that is the highest in many years, Union Food and Public Distribution Minister Piyush Goyal said.
The MSP for moong has been raised 10.4%, for sesame seeds 10.3%, long-staple cotton 10%, groundnut oil 9%, medium staple cotton 8.9% and paddy 7%.
The MSP for Jowar, Bajra, Ragi, Maize, Urad, Tur, Sunflower seeds and oil, among other items, have been raised in the range of 6% to 7%.
The Union Cabinet approved ₹143 hike in paddy MSP to ₹2,183/quintal for 2023-24; highest increase in moong MSP at ₹8,558/quintal.
At the meeting on June 7, the Prime Minister and the Ministers in the Cabinet first expressed sympathy for the loved ones of those who have lost their lives due to the situation in Manipur and Balasore, Mr. Goyal said.
Briefing media, Food and Consumer Affairs Minister Piyush Goyal said, “In agriculture, we have been fixing MSP from time to time based on the recommendations of the CACP (Commission for Agricultural Costs and Prices). The increase in MSP of kharif crops for this year is highest compared to the previous years.” Farmers will benefit from the increase in the MSP at a time when retail inflation is on a declining trend, he added.
The support price of ‘A’ grade variety of paddy has been hiked by ₹163 to ₹2,203 per quintal from ₹2,060, he said.
(with inputs from PTI)
