Government hikes Wheat MSP by Rs 150 to Rs 2,275 per quintal for 2024-25

Wheat MSP: The Union government announced an increase in the Minimum Support Price for Wheat by Rs 150 to Rs 2,275 per quintal for the 2024-25 market season. This comes ahead of the assembly polls in key wheat growing states.

Minimum Support Price

Since Modi government came to power in 2014, this is the highest quantum of increase in MSP for any marketing season. As per PTI, the MSP for gram, barley, lentil (masur), rapeseed-mustard seed and safflower has also been hiked.

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At present, the Wheat MSP is at Rs 2,125 per quintal for the 2023-24 marketing season (April-March). Wheat which is a winter crop has its sowing period in October and the harvesting starts from April.

The MSP of barley has been increased by Rs 115 per quintal to Rs 1,850 for 2024-25 from Rs 1,735 per quintal this year.

Among rabi pulses, the MSP of gram has been increased by Rs 105 to Rs 5,440 per quintal for 2024-25 as against Rs 5,335 per quintal in 2023-24 while that of lentil (masur) has been hiked by Rs 425 to Rs 6,425 per quintal from Rs 6,000 per quintal.

In order to promote oilseeds cultivation, the government increased rapeseed-mustard seed MSP by Rs 200 to Rs 5,650 per

quintal for 2024-25 marketing season, from Rs 5,450 per quintal in 2023-24 season. The MSP of safflower has been increased by Rs 150 to Rs 5,800 per quintal for 2024-25 from Rs 5,650 per quintal

MSP is the minimum rate at which the grain is purchased by the government procurement agencies.

Cabinet Committee on Economic Affairs

The decision to hike the prices was taken at the meeting of the Cabinet Committee on Economic Affairs that was presided by Prime Minister Narendra Modi.

Briefing media after the cabinet meeting, Information & Broadcasting Minister Anurag Singh Thakur said the CCEA has approved the increase in the MSP of six mandated rabi crops for the 2024-25 marketing season.

"Based on the CACP (Commission for Agricultural Costs and Prices) recommendation, we have increased the MSP of six rabi crops. Wheat MSP has been increased by Rs 150 per quintal," he said.