India raises minimum support prices for 2020 "Rabi" crops

24/10/2019,

On 23 October, the Government increased the Minimum Support Prices (MSP) for the 2020 winter “Rabi” crops, about to be planted. The MSP for wheat, the main “Rabi” crop, was increased by INR 85 or about 5 percent up from the previous season to INR 1 925 per quintal (USD 271 per tonne), while the MSP for barley was increased by 6 percent to INR 1 525 per quintal (USD 215 per tonne). MSPs for pulses, gram and oilseeds were also raised by 5 percent to 7 percent, depending on the crop. The MSPs are the prices at which the federal Government buys food grains from farmers, aimed to ensure farmers’ profits and boost production. Procurement at the new MSPs will begin in April 2020.

Country: India