India raises minimum support prices for 2019 "Kharif" crops

04/07/2019,

The Government of India increased the Minimum Support Prices (MSP) for the 2019 “Kharif” crops, now being planted and to be harvested from September onwards. The Government raised the MSP of paddy rice, the main “Kharif” crop, by 3.7 percent or INR 65 per quintal for both common (non-basmati) and A grade varieties. The MSP for common rice was set at INR 1 815 (USD 26.36) per quintal and the price for A grade rice at INR 1 835 (USD 26.65) per quintal. The MSP of maize was increased by 3.5 percent or INR 60 to INR 1 760 (USD 25.56) per quintal. The MSP for cotton, oilseeds, pulses and groundnuts were also raised. The MSP are the prices at which the Federal Government buys food grains from farmers, with the aim to boost domestic production and ensure remunerative prices to farmers.

Country: India