The Indian government on Wednesday announced minimum support prices (MSPs) for six rabi crops for the 2022-23 marketing season, keeping the increase for wheat at its lowest in 12 years in an attempt to encourage crop diversification.
The MSP for wheat was raised by a mere 2.03 percent, while those for barley, gram, masur, rapeseed and mustard, and safflower were increased in range of 2.14% to 8.60%, a government statement said.
MSPs for all Rabi crops for marketing season 2022-23 (In Rs./quintal)
|Crops||MSP for RMS 2021-22||MSP for RMS 2022-23||Cost* of production 2022-23||Increase in MSP(Absolute)||Return over cost (in per cent)|
|Rapeseed & Mustard||4650||5050||2523||400||100|
The increase for 2022-23 is in line with the 2018-19 budget announcement of fixing the MSPs at a level of at least 1.5 times of the all-India weighted average cost of production, aiming a reasonably fair remuneration for the farmers., the statement said, adding that the expected returns to farmers over their cost of production are estimated to be highest in case of wheat and rapeseed & mustard (100% each), followed by lentil (79%); gram (74%); barley (60%); safflower (50%).