Cabinet approves Minimum Support Prices (MSP) for Kharif Crops for Marketing Season 2024-25

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Cabinet approves Minimum Support Prices (MSP) for Kharif Crops for Marketing Season 2024-25

By PIB Delhi

The Union Cabinet chaired by Prime Minister Shri Narendra Modi today approved the increase in the Minimum Support Prices (MSP) for all mandated Kharif Crops for Marketing Season 2024-25.

Government has increased the MSP of Kharif Crops for Marketing Season 2024-25, to ensure remunerative prices to the growers for their produce. The highest absolute increase in MSP over the previous year has been recommended for oilseeds and pulses viz. nigerseed (Rs.983/- per quintal) followed by sesamum (Rs.632/- per quintal) and tur/arhar (Rs.550/- per quintal).

Minimum Support Prices for all Kharif crops for Marketing Season 2024-25

Rs. per quintal

CropsMSP
2024-25
Cost* KMS
2024-25
Margin over
cost (%)
MSP
2023-24
MSP Increase
in 2024-25
over 2023-24
 
Cereals 
      
PaddyCommon23001533502183117 
Grade A^23202203117 
JowarHybrid33712247503180191 
Maldandi”34213225196 
Bajra26251485772500125 
Ragi42902860503846444 
Maize22251447542090135 
Pulses      
Tur /Arhar75504761597000550 
Moong86825788508558124 
Text Box: Page 2 of 5
CropsMSP
2024-25
Cost* KMS
2024-25
Margin over
cost (%)
MSP
2023-24
MSP Increase
in 2024-25
over 2023-24
    
Urad74004883526950450
Oilseeds     
Groundnut67834522506377406
Sunflower Seed72804853506760520
Soybean (Yellow)48923261504600292
Sesamum92676178508635632
Nigerseed87175811507734983
Commercial     
Cotton(Medium Staple)71214747506620501
(Long Stapler75217020501

*Refers to cost which includes all paid out costs such as those incurred on account of hired human labour, bullock labour/machine labour, rent paid for leased in land, expenses incurred on use of material inputs like seeds, fertilizers, manures, irrigation charges, depreciation on implements and farm buildings, interest on working capital, diesel/electricity for operation of pump sets etc., miscellaneous expenses and imputed value of family labour.

A Cost data are not separately compiled for Paddy (Grade A), Jowar (Maldandi) and Cotton (Long staple)

The increase in MSP for Kharif Crops for Marketing Season 2024-25 is in line with the Union Budget 2018-19 announcement of fixing the MSP at a level of at least 1.5 times of the All-India weighted average cost of production, The expected margin to farmers over their cost of production are estimated to be highest in case of bajra (77%) followed by tur (59%), maize (54%) and urad (52%). For rest of the crops, margin to farmers over their cost of production is estimated to be at 50%.

In the recent years, Government has been promoting the cultivation of crops, other than cereals such as pulses and oilseeds, and Nutri-cereals/ Shree Anna, by offering a higher MSP for these crops.

During the period 2003-04 to 2013-14 for 14 crops covered under Kharif Marketing Season, the minimum absolute increase in MSP was Rs.745/- per quintal for Bajra and maximum absolute increase was Rs.3,130/- per quintal for Moong while during the period 2013-14 to 2023-24, the minimum absolute increase in MSP was Rs.780/- per quintal for Maize and maximum absolute increase was Rs.4,234/- per quintal for Nigerseed. Details are at Annexure-I.

During the period 2004-05 to 2013-14, the procurement of 14 crops covered under Kharif Marketing Season was 4,675.98 Lakhs Metric Ton (LMT) while during the period 2014-15 to 2023-24, procurement of these crops was 7,108.65 LMT. The year-wise details are at Annexure-II.

As per the 3rd Advance Estimates of production for 2023-24, total foodgrain production in the country is estimated at 3288.6 Lakhs Metric Ton (LMT), and oilseeds production is touching 395.9 LMT. During 2023-24, kharif production of rice, pulses, oilseeds and nutri-cereals/Shree Anna and cotton is estimated to be 1143.7 LMT, 68.6 LMT, 241.2 LMT, 130.3 LMT and 325.2 Lakh bales, respectively.

Annexure-I      Rs.per quintal

CropsMSP
2003-04
MSP
2013-14
MSP
2023-24
.                      .Increase in
MSP in
2013-14
over 2003-
04
.                .Increase inMSP in
over 2023-24 over
2013-14
 
Cereals 
ABCD=B-AE=C-B 
PaddyCommon55013102183760873 
Grade A^58013452203765858 
JowarHybrid505150031809951680 
MaldandiA15203225 1705 
Bajra505125025007451250 
Ragi505150038469952346 
Maize50513102090805780 
Pulses      
Tur /Arhar13604300700029402700 
Moong13704500855831304058 
Urad13704300695029302650 
Oilseeds      
Groundnut14004000637726002377 
Sunflower Seed12503700676024503060 
Soybean (Yellow)9302560460016302040 
Sesamum14854500863530154135 
Nigerseed11553500773423454234 
  Commercial    
Cotton(MediumStaple)17253700662019752920 
(Long Staple)”19254000702020753020 

Annexure-II

Procurement of Kharif Crops 2004-05 to 2013-14 and 2014-15 to
2023-24

In LMT

Crops2004-05 to 2013-142014-15 to 2023-24 
Cereals 
AB 
Paddy4,590.396,914.98 
Jowar1.925.64 
Bajra5.9714.09 
Ragi0.9221.31 
Maize36.948.20 
Pulses   
Tur /Arhar0.6019.55 
Moong0.001 
Urad0.868.75 
Oilseeds   
Groundnut3.4532.28 
Sunflower Seed0.28  
Soybean (Yellow)0.011.10 
Sesamum0.050.03 
Nigerseed0.000.00 
Commercial   
Cotton34.59 63.41 
Total4,675.987,108.65 

About Post Author

Editor Desk

Antara Tripathy M.Sc., B.Ed. by qualification and bring 15 years of media reporting experience.. Coverred many illustarted events like, G20, ICC,MCCI,British High Commission, Bangladesh etc. She took over from the founder Editor of IBG NEWS Suman Munshi (15/Mar/2012- 09/Aug/2018 and October 2020 to 13 June 2023).
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