Ministry of Agriculture & Farmers Welfare
azadi ka amrit mahotsav

Cabinet approves Minimum Support Prices (MSP) for Kharif Crops for Marketing Season 2024-25

Posted On: 19 JUN 2024 7:57PM by PIB Delhi

The Union Cabinet chaired by Prime Minister Shri Narendra Modi today approved the increase in the Minimum Support Prices (MSP) for all mandated Kharif Crops for Marketing Season 2024-25.

Government has increased the MSP of Kharif Crops for Marketing Season 2024-25, to ensure remunerative prices to the growers for their produce. The highest absolute increase in MSP over the previous year has been recommended for oilseeds and pulses viz. nigerseed (Rs.983/- per quintal) followed by sesamum (Rs.632/- per quintal) and tur/arhar (Rs.550/- per quintal).

Minimum Support Prices for all Kharif crops for Marketing Season 2024-25

Rs. per quintal

Crops

MSP
2024-25

Cost* KMS
2024-25

Margin over
cost (%)

MSP
2023-24

MSP Increase
in 2024-25
over 2023-24

 

Cereals

 

 

 

 

 

 

 

Paddy

Common

2300

1533

50

2183

117

 

Grade A^

2320

-

-

2203

117

 

Jowar

Hybrid

3371

2247

50

3180

191

 

Maldandi"

3421

-

-

3225

196

 

Bajra

2625

1485

77

2500

125

 

Ragi

4290

2860

50

3846

444

 

Maize

2225

1447

54

2090

135

 

Pulses

 

 

 

 

 

 

Tur /Arhar

7550

4761

59

7000

550

 

Moong

8682

5788

50

8558

124

 

Text Box: Page 2 of 5

Crops

MSP
2024-25

Cost* KMS
2024-25

Margin over
cost (%)

MSP
2023-24

MSP Increase
in 2024-25
over 2023-24

 

 

 

 

Urad

7400

4883

52

6950

450

Oilseeds

 

 

 

 

 

Groundnut

6783

4522

50

6377

406

Sunflower Seed

7280

4853

50

6760

520

Soybean (Yellow)

4892

3261

50

4600

292

Sesamum

9267

6178

50

8635

632

Nigerseed

8717

5811

50

7734

983

Commercial

 

 

 

 

 

Cotton

(Medium Staple)

7121

4747

50

6620

501

(Long Stapler

7521

-

-

7020

501

 

*Refers to cost which includes all paid out costs such as those incurred on account of hired human labour, bullock labour/machine labour, rent paid for leased in land, expenses incurred on use of material inputs like seeds, fertilizers, manures, irrigation charges, depreciation on implements and farm buildings, interest on working capital, diesel/electricity for operation of pump sets etc., miscellaneous expenses and imputed value of family labour.

A Cost data are not separately compiled for Paddy (Grade A), Jowar (Maldandi) and Cotton (Long staple)

The increase in MSP for Kharif Crops for Marketing Season 2024-25 is in line with the Union Budget 2018-19 announcement of fixing the MSP at a level of at least 1.5 times of the All-India weighted average cost of production, The expected margin to farmers over their cost of production are estimated to be highest in case of bajra (77%) followed by tur (59%), maize (54%) and urad (52%). For rest of the crops, margin to farmers over their cost of production is estimated to be at 50%.

 

In the recent years, Government has been promoting the cultivation of crops, other than cereals such as pulses and oilseeds, and Nutri-cereals/ Shree Anna, by offering a higher MSP for these crops.

During the period 2003-04 to 2013-14 for 14 crops covered under Kharif Marketing Season, the minimum absolute increase in MSP was Rs.745/- per quintal for Bajra and maximum absolute increase was Rs.3,130/- per quintal for Moong while during the period 2013-14 to 2023-24, the minimum absolute increase in MSP was Rs.780/- per quintal for Maize and maximum absolute increase was Rs.4,234/- per quintal for Nigerseed. Details are at Annexure-I.

 

During the period 2004-05 to 2013-14, the procurement of 14 crops covered under Kharif Marketing Season was 4,675.98 Lakhs Metric Ton (LMT) while during the period 2014-15 to 2023-24, procurement of these crops was 7,108.65 LMT. The year-wise details are at Annexure-II.

 

As per the 3rd Advance Estimates of production for 2023-24, total foodgrain production in the country is estimated at 3288.6 Lakhs Metric Ton (LMT), and oilseeds production is touching 395.9 LMT. During 2023-24, kharif production of rice, pulses, oilseeds and nutri-cereals/Shree Anna and cotton is estimated to be 1143.7 LMT, 68.6 LMT, 241.2 LMT, 130.3 LMT and 325.2 Lakh bales, respectively.

 

Annexure-I      Rs.per quintal

Crops

MSP
2003-04

MSP
2013-14

MSP
2023-24

.                      .

Increase in
MSP in
2013-14
over 2003-
04

.                .

Increase in

MSP in
over 2023-24 over
2013-14

 

Cereals

 

A

B

C

D=B-A

E=C-B

 

Paddy

Common

550

1310

2183

760

873

 

Grade A^

580

1345

2203

765

858

 

Jowar

Hybrid

505

1500

3180

995

1680

 

MaldandiA

-

1520

3225

 

1705

 

Bajra

505

1250

2500

745

1250

 

Ragi

505

1500

3846

995

2346

 

Maize

505

1310

2090

805

780

 

Pulses

 

 

 

 

 

 

Tur /Arhar

1360

4300

7000

2940

2700

 

Moong

1370

4500

8558

3130

4058

 

Urad

1370

4300

6950

2930

2650

 

Oilseeds

 

 

 

 

 

 

Groundnut

1400

4000

6377

2600

2377

 

Sunflower Seed

1250

3700

6760

2450

3060

 

Soybean (Yellow)

930

2560

4600

1630

2040

 

Sesamum

1485

4500

8635

3015

4135

 

Nigerseed

1155

3500

7734

2345

4234

 

 

 

Commercial

 

 

 

 

Cotton

(Medium

Staple)

1725

3700

6620

1975

2920

 

(Long Staple)"

1925

4000

7020

2075

3020

 

 

 

 

Annexure-II

Procurement of Kharif Crops 2004-05 to 2013-14 and 2014-15 to
2023-24

In LMT

Crops

2004-05 to 2013-14

2014-15 to 2023-24

 

Cereals

 

A

B

 

Paddy

4,590.39

6,914.98

 

Jowar

1.92

5.64

 

Bajra

5.97

14.09

 

Ragi

0.92

21.31

 

Maize

36.94

8.20

 

Pulses

 

 

 

Tur /Arhar

0.60

19.55

 

Moong

0.00

1

 

Urad

0.86

8.75

 

Oilseeds

 

 

 

Groundnut

3.45

32.28

 

Sunflower Seed

0.28

 

 

Soybean (Yellow)

0.01

1.10

 

Sesamum

0.05

0.03

 

Nigerseed

0.00

0.00

 

Commercial

 

 

 

Cotton

34.59

 

63.41

 

Total

4,675.98

7,108.65

 

 

 

*****

DS



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