The Central Government, led by Prime Minister Narendra Modi, has shared the good news about the prices farmers will get for their winter crops. In the upcoming winter season of 2024-25, farmers can expect Rs 2275 for each quintal of wheat and Rs 5650 for each quintal of mustard.
MSP of Rabi crops declared
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has given a thumbs-up to this increase in the Minimum Support Price (MSP) for winter crops.
Wondering how much more farmers will be getting for their crops?
Well, lentils (masoor) get the highest boost, with an extra Rs 425 for each quintal. Mustard follows with Rs 200 more per quintal. Wheat and safflower also get a little extra at Rs 150 per quintal. Barley sees a bump of Rs 115, and gram gets an increase of Rs 105 per quintal.
These new prices kick in from April 1, 2024.
The government takes care of the Minimum Support Price for six main winter crops: wheat, barley, gram, lentils, mustard, and safflower. Starting from April 1, 2024, farmers will be looking at Rs 2275 for wheat, Rs 1850 for barley, Rs 5440 for gram, Rs 6425 for lentils, Rs 5650 for mustard, and Rs 5800 for safflower, all per quintal.
#Cabinet approves an increase in Minimum Support Prices (MSP) for all mandated Rabi Crops for Marketing Season 2024-25.— PIB India (@PIB_India) October 18, 2023
The absolute highest increase in MSP has been approved for Lentil at ₹425 per quintal followed by Rapeseed & Mustard at ₹200 per quintal. For wheat and… pic.twitter.com/b1pWPqefk8
These changes in prices were decided based on the Union Budget of 2018-19.
The government wants to make sure farmers earn well, so they’ve set these prices. It’s like a rulebook called the Commission for Agricultural Costs and Prices (CACP), which says farmers should get at least 1.5 times the money they spent growing the crops. The government claims wheat’s price gives farmers a profit margin of 102 percent, mustard at 98 percent, lentils at 89 percent, gram and barley at 60 percent each, and safflower at 52 percent.