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Mumbai, 5 Jun (Commoditiescontrol):The Minimum Support Price (MSP) for crops will be a top priority for the new government as it prepares to take charge. The MSP for kharif crops is expected to be the first major decision addressed in the upcoming cabinet meeting. These crops, usually sown in June-July and harvested in October, with the exception of Tur (arhar), which is harvested in December-January, may see an MSP increase of up to 8%.
This development comes as the BJP-led National Democratic Alliance (NDA) has managed to get majaority with over 290 seats.
The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister, decides on MSPs in the second week of June each year, aligning with the onset of the monsoon and the agricultural sector's preparation for the sowing season. These decisions significantly influence farmers' crop choices, helping them plan their cultivation for better yields and economic stability.
Recent years have seen lower rainfall, which has impacted the production of kharif crops, especially rice and pulses like tur. The government is expected to increase the MSP by 6-8% to encourage the production of these crops.
Farmer leader Rakesh Tikait has called for a significant MSP increase and assurance that procurement will not fall below government-fixed rates. He emphasized the need for the government to ensure farmers receive the MSP and are not forced to sell their produce below it to middlemen.
Key kharif crops such as paddy, cotton, maize, tur, moong, urad, groundnut, sunflower seed, soybean, sesame, jowar, bajra, and ragi rely heavily on MSP for farmers' sowing decisions. The new government aims to increase the sowing area of pulses and oilseeds to reduce import dependency and lower import bills. India faces a shortfall in pulse production, particularly for tur, necessitating imports.
For the 2023-24 crop year, India is expected to produce 3.3 million tonnes of tur, down from the forecasted 3.42 million tonnes, and 1.5 million tonnes of urad during the kharif season, compared to 1.8 million tonnes in the previous season. The country produced 2.6 million tonnes of urad in the entire 2022-23 crop year.
With national tur consumption around 4.4-4.5 million tonnes, the deficit is met by imports from Africa and Myanmar. The government's challenge is to balance domestic production with imports without harming farmers' earnings.
In 2023, the MSP for moong saw the highest increase among all 14 kharif crops, rising to ₹8,558 per quintal from ₹7,755 the previous year. The MSP for sesame was also significantly increased to ₹8,635 per quintal from ₹7,830 in 2022-23. Other MSP hikes included cotton, paddy, coarse cereals, and maize.
(By Commoditiescontrol Bureau: 09820130172)
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