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Govt hikes paddy MSP by Rs80, Pulses up to Rs400 per quintal

New Delhi: The government of India has increased the minimum support price (MSP) between five to eight per cent of various kharif crops including paddy, pulses, oilseeds and cotton for the crop year 2017-18.

 

The price of MSP for paddy has increased Rs80 per quintal while pulses has increased by up to Rs 400 per quintal. The government has decided paddy MSP at Rs1,550 for common grade variety and Rs1,590 for ‘A’ grade variety. Tur or arhar MSP has been raised to Rs5,450 from Rs5,050 a quintal, while support price of moong dal has been increased to Rs5,575 (including bonus) from Rs5,225 per quintal. Urad MSP is now Rs5,400 per quintal against Rs5,000 in the previous year.

 

The cotton MSP has been raised by Rs160 per quintal to Rs4,020 per quintal for medium staple cotton and Rs4,320 per quintal for long staple cotton. The MSP of soyabean, a major crop in Madhya Pradesh, has been raised by Rs275 per quintal to Rs3,050 per quintal.

 

In 2016-17, the agencies such as Nafed, FCI and SFAC had purchased around 1.8 million tonne of pulses from farmers for creating a buffer stock. The union cabinet had earlier this month  approved MSP of of 14 kharif (summer-sown) crops.

 

However, the decision was not announced amid farmers protest in many states including Madhya Pradesh and Maharashtra, seeking waiver of crop loans.The agriculture ministry has now informed  states about the hike in kharif MSP for the 2017-18 crop year.