NEW DELHI: The government approved a hike in the minimum support price on Tuesday (MSP) from Rabi crops (sown in winter) for the marketing season 2023-24, increasing it for wheat by Rs 110 per quintal, which is 5.4% higher than the support price for the current year.
The focus of the increase is, however, on lentils (masur) and mustard which recorded an increase of Rs 500 per quintal (9% more) and Rs 400 per quintal (almost 8% more) compared to the MSP. of the current 2022-23 marketing season, respectively. The move is aimed at encouraging farmers to choose a larger acreage of legumes and oilseeds during the current planting season and reduce the country’s import dependency.

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MSP, announced in advance Season of the sowing of Kharif and Rabi, is the rate at which the government buys agricultural products from farmers. Currently, the government sets MSPs for 23 crops grown in both Kharif (summer sowing) and Rabi seasons. Announcing the increase in the 2-9% range for six Rabi crops, the government said the MSP increase for Rabi crops is in line with the 2018-19 Union budget announcement to set the price. of support at a level of at least 1.5 times India’s weighted average cost of production.
Consequently, the maximum rate of return would be 104% for rapeseed and mustard, followed by 100% for wheat, 85% for lentils, 66% for gram60% for barley and 50% for safflower during the Rabi marketing season (RMS) which starts on April 1st next year.
In the case of the most popular Rabi crop, wheat, which occupies the highest acreage of all six winter-sown crops, the MSP was increased from Rs 2,015 per quintal in 2022-23 RMS to Rs 2,125 per quintal by 2023. -24 RMS – increase of Rs 110 per quintal (5.4%). Since the production cost of wheat is estimated at Rs 1,065 per quintal, the yield would be 100%.
The 5.4% increase in MSP for wheat in the period 2022-23 is, however, higher than the previous increase when it recorded only a 2% increase (from Rs 1,975 per quintal in 2021-22 to Rs 2,015 for quintal in 2022-23). Mustard and lentils, on the other hand, also recorded a greater increase in MSP in 2022-23 compared to 2021-22 with an increase of 8.6% and 7.8% respectively.
“From the year 2014-15, there has been a renewed focus on increasing the production of oilseeds and legumes. The efforts have yielded good results. Oilseed production increased from 27.51 million tons in 2014-15 to 37.70 million tons in 2021-22 (fourth early estimate). The production of pulses has shown a similar increasing trend, “the government said.
It said: “The government’s priority is to increase the production of oilseeds and legumes and thus achieve the goal of ‘Atmanirbhar Bharat’ (self-sufficient India).”



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