Trade and markets
 

Detail

Area
India
Commodity Group
Oilseeds, oils and meals
Commodity
All
Date
01/07/2013
Policy Category
Production
Policy Instrument
Support prices
Description
Raised minimum support prices for oilseeds and other crops.
Notes
INDIA – support prices: With the onset of the kharif (summer) cropping season, minimum support prices (MSP) paid to farmers have been revised upward for several crops: the MSP for yellow and black soybeans has been raised to, respectively, Rs 25 600 and Rs 25 000 per ton (compared to last year’s Rs 22 400 and 22 000); that for sesame has been lifted to Rs 45 000 per ton (from Rs 42 000); and that for groundnuts in-shell went up to Rs 40 000 per ton (from previously Rs 37 000). By contrast, the MSP for sunflowerseed and nigerseed have been kept unchanged at, respectively, Rs 37 000 and 35 000. Support prices are adjusted regularly to reflect rises in production costs, so as to protect farm incomes and stimulate production. This year, the increases granted to oilcrops (ranging from zero to 14 percent) are smaller than last year’s (24–37 percent) and compare as follows to other kharif crops: rice up 5%; cotton 3%; millet 6%; pulses 2–12%; and maize 11%.