In a pre-Diwali boost for farmers, the Central Government on Wednesday (October 16) announced an increase in the Minimum Support Price (MSP) for key rabi crops for the 2025-26 marketing season. The new MSP rates aim to ensure farmers receive a fair value for their harvests.
During the Cabinet Committee on Economic Affairs meeting chaired by Prime Minister Narendra Modi, the MSP for wheat was raised by Rs 150 per quintal, moving from Rs 2,275 to Rs 2,425. Mustard saw an increase of Rs 300 per quintal, bringing its MSP to Rs 5,950, while the MSP for gram rose by Rs 210 to Rs 5,650 per quintal.
The highest MSP hike was given to Rapeseed and Mustard, with a rise of Rs 300 per quintal (from Rs 5,650 to Rs 5,950), followed by Lentil (Masur), which saw an increase of Rs 275 per quintal (from Rs 6,425 to Rs 6,700).
“The biggest factor is that the price should be at least 50 pc above the cost, on that basis, the cost of six Rabi crops has been decided on the basis of projections of CACP (Commission for Agricultural Costs and Prices),” Railway Minister Ashwini Vaishnaw said.
The MSP acts as a safety net for farmers, ensuring they are shielded from abrupt price drops. It plays a crucial role in maintaining food security and serves as a reference for market price discovery. By providing financial stability, the system encourages better agricultural production.
Here’s a look at the revised MSP of the crops:
Wheat – Rs 2425 from Rs 2275
Barley – Rs 1980 from Rs 1850
Gram – Rs 5650 from Rs 5440
Lentil – Rs 6700 from 6425
Rapeseed/ mustard – Rs 5950 from Rs 5650
Safflower – Rs 5940 from Rs 5800
First Published: Oct 16 2024 | 3:47 PM IST
