The Government of India has approved an increase in the Minimum Support Price (MSP) for major Kharif crops for the 2024-25 marketing season. This year, oilseed crops have received significant importance, with the highest increase in MSP allocated to oilseeds. The MSP for niger seed has seen the most substantial rise, with an increase of ₹983 per quintal.
Significant Increase in Niger Seed MSP:
The MSP for niger seed has been raised by 12.7%, the highest among all Kharif crops, now standing at ₹8717 per quintal. Niger seed is a crucial oilseed crop. Along with the MSP increase, the central government has implemented various schemes for farmers, such as affordable loans, subsidies on agricultural machinery, and crop insurance schemes.
Benefits from Sowing Oilseeds and Pulses:
The increase in MSP for Kharif crops for the 2024-25 marketing season has been approved, with a particular focus on pulses and oilseeds. These crops are expected to be highly profitable for farmers. The MSP for tur (arhar) has increased by 8%, now set at ₹7550 per quintal. This rise in MSP for arhar dal is expected to boost pulse production in the country. The MSP for moong is now ₹8313 per quintal, and urad has seen an increase of ₹300, bringing its MSP to ₹6900 per quintal. The MSP for soybean has been raised by ₹292, now standing at ₹4892 per quintal. Soybean remains an essential cash crop for farmers.
