IBEF: July 04, 2019
The government raised minimum support price (MSP) of paddy, a kharif crop, by around 3.7 per cent to US$ 25.22 per quintal for 2019- 2020 crop season, as per Agriculture and Farmers Welfare Minister Narendra Singh Tomar.
The decision taken by the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi. The MSP for paddy has been increased by US$ 0.9035 per quintal, Jowar by US$ 1.68 per quintal and Ragi by US$ 3.26 per quintal.
Prices of tur, moong and urad pulses have also been raised by US$ 2.98, US$ 1.04 and US$ Rs 1.39, respectively, for the 2019-20 crop season.
MSP, which Centre guarantee to pay farmers has also been raised for groundnut and soyabean by US$ 2.78 and US$ 4.32 per quintal, respectively.
To addition of this MSP for long and medium cotton has been raised by US$ 1.39 and US$ 1.45 per quintal, respectively.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.