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Union Cabinet announces Minimum Support Prices (MSP) for Kharif Crops for Marketing Season 2023-24

08 June 2023, New Delhi: The Union Cabinet has approved the increase in the Minimum Support Prices (MSP) for all mandated Kharif Crops for Marketing Season 2023-24.  

The government has increased the MSP of Kharif Crops for Marketing Season 2023-24, to ensure remunerative prices to the growers for their produce and to encourage crop diversification, as provided in the table below:

Minimum Support Prices for Kharif Marketing Season (KMS) 2023-24

CropsMSP 2022-23MSP 2023-24Increase in MSP over 2022-23% Increase
Paddy -Common204021831437%
Paddy-Grade A^206022031437%
Jowar-Hybrid297031802107%
Jowar- Maldandi^299032252358%
Bajra235025001506%
Ragi357838462687%
Maize196220901287%
Tur /Arhar660070004006%
Moong7755855880310%
Urad660069503505%
Groundnut585063775279%
Sunflower Seed640067603606%
Soybean (Yellow)430046003007%
Sesamum7830863580510%
Nigerseed728777344476%
Cotton (Medium Staple)608066205409%
Cotton (Long Staple) ^6380702064010%
Minimum Support Prices for Kharif Marketing Season (KMS) 2023-24

The expected margin to farmers over their cost of production is estimated to be highest in the case of bajra (82%) followed by tur (58%), soybean (52%), and urad (51%). For the rest of the crops, the margin to farmers over their cost of production is estimated to be at least 50%.

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

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