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Agriculture price panel for raising kharif crops’ minimum support price

Agriculture price panel for raising kharif crops’ minimum support price
By: EIN Posted On: May 22, 2020 View: 10

Agriculture price panel for raising kharif crops’ minimum support price

NEW DELHI: The government is likely to raise the minimum support price of rice by 2.9% to Rs 1,868 per quintal, and significantly raise the procurement price of some coarse grains and pulses. The price of the better variety of rice (Grade A) has been proposed at Rs 1,888, up from last year’s price of Rs 1,835.

The Commission for Agricultural Costs and Prices (CACP) has recommended higher support prices for 17 summer-sown, or kharif, crops. The cabinet will consider the proposed new rates, officials said.

Rice is a major kharif crop, accounting for 40% of the planting in the season. CACP’s recommended price for paddy is Rs 53 per quintal more than last year. “The proposals are under consultation with related ministries like food before being sent to the cabinet for approval. Normally, CACP’s recommendations are accepted fully,” said an agriculture department official.

As per the proposal, the highest increment has been proposed for nigerseed, an important oil crop, whose MSP has been increased by Rs 755 per quintal to Rs 6,695 per quintal.

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The floor price of cotton has been proposed to rise by Rs 260 per quintal while the price for soya bean has been raised by Rs 170. “Among cereals, the highest increase is proposed in Bajra where price is likely to be Rs 2,150 per quintal, Rs 150 more than last year.

Among pulses, highest increment has been recommended for urad, with a proposed rate of Rs 6,000 from last year’s Rs 5,700 a quintal.

The government has been promoting cultivation of pulses and oilseeds over foodgrains for the past few years. There has been record production of foodgrains with each successive year, leaving the government granaries overflowing. With over 71 MT foodgrains in stock, the government aims to augment the production of edible oil to reduce the import bill, which has swelled to around Rs 80,000 crore.

“A significant rise is proposed in nigerseed, soya bean to encourage farmers to shift from food grains to oilseeds. Among coarse cereals, bajra too got a boost,” said another official.

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