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
| Crops | MSP 2022-23 | MSP 2023-24 | Increase in MSP over 2022-23 | % Increase |
| Paddy -Common | 2040 | 2183 | 143 | 7% |
| Paddy-Grade A^ | 2060 | 2203 | 143 | 7% |
| Jowar-Hybrid | 2970 | 3180 | 210 | 7% |
| Jowar- Maldandi^ | 2990 | 3225 | 235 | 8% |
| Bajra | 2350 | 2500 | 150 | 6% |
| Ragi | 3578 | 3846 | 268 | 7% |
| Maize | 1962 | 2090 | 128 | 7% |
| Tur /Arhar | 6600 | 7000 | 400 | 6% |
| Moong | 7755 | 8558 | 803 | 10% |
| Urad | 6600 | 6950 | 350 | 5% |
| Groundnut | 5850 | 6377 | 527 | 9% |
| Sunflower Seed | 6400 | 6760 | 360 | 6% |
| Soybean (Yellow) | 4300 | 4600 | 300 | 7% |
| Sesamum | 7830 | 8635 | 805 | 10% |
| Nigerseed | 7287 | 7734 | 447 | 6% |
| Cotton (Medium Staple) | 6080 | 6620 | 540 | 9% |
| Cotton (Long Staple) ^ | 6380 | 7020 | 640 | 10% |
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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