Centre may announce support price for kharif crops soon
The Centre is likely to announce the minimum support price (MSP) of kharif crops like paddy, arhar and soyabean this week, enabling the farmers to decide well-in-advance which crop to grow.
By PTI |
NEW DELHI: The Centre is likely to announce the minimum support price (MSP) of kharif crops like paddy, arhar and soyabean this week, enabling the farmers to decide well-in-advance which crop to grow.
���The Cabinet is likely to finalise the kharif MSP during this week,��� a senior agriculture ministry official said. The decision will be based on the recommendations of the Commission for Agricultural Costs and Prices (CACP) and feedback from different states, he added.
When asked about the delay in announcement as monsoon is predicted to hit Kerala on may 29, he said: ���We have not received the feedback from some states as well as concerned ministries like finance.��� Last year, the kharif MSP was announced in the third week of May. The CACP has already submitted its recommendation to the government regarding the MSP for this year���s kharif crop.
For paddy, which is the main kharif crop, the CACP has suggested a MSP of Rs 1,000-1,050 a quintal. In 2007-08 kharif, the MSP for grade A and common varieties were fixed at Rs 675 and Rs 645 per quintal, respectively. There was a demand from political parties to raise the MSP of paddy, after the government increased the wheat support price to Rs 1,000 a quintal in 2007-08 season from Rs 750.
According to sources, the CACP has recommended the MSP of jowar, bajra and maize at Rs 840 per quintal each. The MSP of ragi has been recommended at Rs 915, tur Rs 2,000, moong Rs 2,520, groundnut Rs 2,100, soyabean Rs 1,390 and sesame Rs 2,750 a quintal respectively.
Soyabean MSP, which was Rs 1,050 a quintal a year ago, is very low as compared to the current market price. The soyabean prices have reached at Rs 2,350 per quintal from about Rs 1,550 level in October 2007.
���The Cabinet is likely to finalise the kharif MSP during this week,��� a senior agriculture ministry official said. The decision will be based on the recommendations of the Commission for Agricultural Costs and Prices (CACP) and feedback from different states, he added.
When asked about the delay in announcement as monsoon is predicted to hit Kerala on may 29, he said: ���We have not received the feedback from some states as well as concerned ministries like finance.��� Last year, the kharif MSP was announced in the third week of May. The CACP has already submitted its recommendation to the government regarding the MSP for this year���s kharif crop.
For paddy, which is the main kharif crop, the CACP has suggested a MSP of Rs 1,000-1,050 a quintal. In 2007-08 kharif, the MSP for grade A and common varieties were fixed at Rs 675 and Rs 645 per quintal, respectively. There was a demand from political parties to raise the MSP of paddy, after the government increased the wheat support price to Rs 1,000 a quintal in 2007-08 season from Rs 750.
According to sources, the CACP has recommended the MSP of jowar, bajra and maize at Rs 840 per quintal each. The MSP of ragi has been recommended at Rs 915, tur Rs 2,000, moong Rs 2,520, groundnut Rs 2,100, soyabean Rs 1,390 and sesame Rs 2,750 a quintal respectively.
Soyabean MSP, which was Rs 1,050 a quintal a year ago, is very low as compared to the current market price. The soyabean prices have reached at Rs 2,350 per quintal from about Rs 1,550 level in October 2007.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
