AreaIndia

Commodity GroupOilseeds, oils and meals

CommodityOilseeds

Date01/06/2020

Policy CategoryProduction

Policy InstrumentProduction support

DescriptionRaised the minimum support prices (MSP) of Kharif crops – including soybeans, groundnut sunflowerseed, sesameseed and nigerseed – for marketing year 2020/21.

NotesINDIA – minimum support prices: On 1 June, to ensure remunerative prices for growers, the Union Cabinet approved increases in the minimum support prices (MSP) for all Kharif crops for marketing year 2020/21. The support prices for soybeans, groundnuts, sunflowerseed, sesameseed and nigerseed were set at, respectively, INR 38 800, 52 750, 58 850, 68 550 and 66 950 per tonne (or USD 516, 701, 782, 911 and 890). Compared to last season, the support prices for the two key oilcrops, soybeans and groundnuts, have been raised by 5 percent and 4 percent, respectively.