The minimum support price is fixed keeping in view the farming expenses incurred by the farmers in the country. The support prices of 17 people are fixed every year. Support prices for the kharif season have also been increased this year. For the current financial year 2020-21, the support price of cereals has increased to Rs. 1868 per quintal. And A grade grains are fixed at Rs. 1888 per quintal. The MSP of barley is Rs 2620 and the minimum price of millet is Rs 2150 per quintal. Apart from this, the minimum support price (MSP) in ragi, mug, groundnut, soybean, sesame, cotton etc. has been increased. The central government had last year hiked the MSP of cereals by 3.7 per cent to Rs 65 per quintal during the kharif season. This year, it has increased by 2.9 per cent to Rs 53 per quintal.
It has decided to increase the MSP of kharif crop from 2.1 per cent to 12.7 per cent. After the meeting, the Union Agriculture Minister said that on the recommendation of the CACP, the price of cereals has been fixed at 50 per cent profit. The MSP for kharif pulses Tuvar has been hiked by Rs 200, or 3.7 per cent, to Rs 6,000, while the MSP for mug has been hiked by Rs 185 to Rs 5,275. The MSP of sunflower seeds has been increased by Rs 235 to Rs 5,885. The support price of sesame has been increased by Rs 370 to Rs 6,855. The support price of Niger Seeds has been increased by a maximum of Rs 755 to Rs 6695. About 140 to 150 lakh tonnes of edible oils are also imported every year as the production of oilseeds falls short of the requirement.
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Apart from this, the support price of cotton has been increased by Rs 260 per quintal. The support price of medium staple cotton has been increased by Rs 260 to Rs 5,515 and the support price of long staple cotton has been increased by Rs 275 to Rs 5,825 per quintal. Last year, support prices were hiked by Rs 105 and Rs 100 respectively. Support prices for large grains have also been increased. The support price of millet has been increased by Rs 150 to Rs 2,150 and the MSP of maize has been increased by Rs 90 to Rs 1,850. The support price of ragi has been increased from Rs. 145 to Rs.
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