CCEA hikes Minimum Support Price of wheat and pulses

Posted on:16 Nov 2016 18:08:16
CCEA hikes Minimum Support Price of wheat and pulses
16 November 2016 Current Affairs: The Cabinet Committee on Economic Affairs (CCEA) has hiked the Minimum Support Price (MSP) of wheat and pulses to boost the output of these rabi crops and check prices. The MSP of wheat was hiked by 100 rupees per quintal for the 2016-17 rabi crop. The procurement cost of wheat will be 1,625 rupees per quintal against 1,525 rupees per quintal last year. The support price on Barley has been increased to 1,325 rupees from 1,225 rupees per quintal.

Masur: It has been raised to 3,950 rupees per quintal from 3,400 rupees.

Mustard and safflower: MSP have been hiked to 3,700 rupees per quintal each.

Gram: It has been raised to 4,000 rupees per quintal including bonus, from 3,500 rupees per quintal.

To incentivise cultivation of pulses and oilseeds, CCEA also announced a bonus on these crops over and above MSP.

Minimum Support Price (MSP) :  MSP is a form of agricultural market intervention undertaken by the Union Government in order to insure agricultural producers are protected against any sharp fall in farm prices. It is announced for certain crops by the Union Government prior to the sowing season. The prices are decided by CCEA on the basis of the recommendations of the Commission for Agricultural Costs and Prices (CACP).

Monthly Current Affairs

Current Affairs Section

Daily Current Affairs Quiz

Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs PDF

Current Affairs November 2017

18 NOVEMBER
NEWS
17 NOVEMBER
NEWS
16 NOVEMBER
NEWS
15 NOVEMBER
NEWS

Current Affairs October 2017

31 OCTOBER
NEWS
30 OCTOBER
NEWS
29 OCTOBER
NEWS
28 OCTOBER
NEWS

Current Affairs September 2017

30 SEPTEMBER
NEWS
28 SEPTEMBER
NEWS
27 SEPTEMBER
NEWS
26 SEPTEMBER
NEWS