The government increased the Minimum Support Price (MSP) of all kharif crops by 5-10 percent. The increase for urad dal is the lowest at 5.3 percent while moong and cotton are around 10 percent. This increase in the MSP for FY24 is in line with the government’s aim of providing fair remuneration for farmers. MSP is the price at which the government procures grains from farmers.
Products | FY23 | FY24 | Increase % |
---|---|---|---|
Paddy-Grade A^ | 2,060 | 2,203 | 6.9 |
Jowar-Hybrid | 2,970 | 3,180 | 7.1 |
Jowar-Maldandi^ | 2,990 | 3,225 | 7.9 |
Bajra | 2,350 | 2,500 | 6.4 |
Ragi | 3,578 | 3,846 | 7.5 |
Maize | 1,962 | 2,090 | 6.5 |
Tur/Arhar | 6,600 | 7,000 | 6.1 |
Moong | 7,755 | 8,558 | 10.4 |
Urad | 6,600 | 6,950 | 5.3 |
Groundnut | 5,850 | 6,377 | 9.0 |
Sunflower Seed | 6,400 | 6,760 | 5.6 |
Soybean (Yellow) | 4,300 | 4,600 | 7.0 |
Sesamum | 7,830 | 8,635 | 10.3 |
Nigerseed | 7,287 | 7,734 | 6.1 |
Cotton (Medium Staple) | 6,080 | 6,620 | 8.9 |
Cotton (Long Staple) ^ | 6,380 | 7,020 | 10.0 |