Rabi Crops MSP 2023 List, Minimum Support Prices of Rabi Marketing Season (RMS) 2023-24

Rabi Crops MSP 2023 List, Minimum Support Prices of Rabi Marketing Season (RMS) 2023-24: Hello readers! You are warmly welcomed on our page and we express our heartfelt gratitude to you that you have selected our page to earn information. As you very well know, Hindi Process keeps you fully updated. In this blog, we’ll elucidate all the things related to Rabi Crops MSP List. As you all are aware, Rabi Crops wheat, barley, gram, mustard, and lentils are included.

So, the Cabinet Committee on Economic Affairs, chaired by the Hon’ble Prime Minister Shri Narendra Modi, has approved the increase in the Minimum Support Price (MSP) for all mandated Rabi crops for the marketing season 2023-24. In this blog, we are going to provide you with details about Rabi Crops MSP 2023 list, and minimum support prices for Rabi Marketing Season (RMS) 2023-24. For acquiring complete information, stay tuned with us.

About Rabi Crops MSP 2023 List

The Minimum Support Price (MSP) is an advisory price signal that is part of a larger set of agricultural policies in some parts of India. The Cabinet Committee on Economic Affairs, chaired by PM Shri Modi, has approved the increase in the Minimum Support Price (MSP) for all mandated Rabi crops for the marketing season 2023-24.  After receiving the recommendations of the MSP Committee, the Ministry of Agriculture recommended an increase in the MSP of some rabi crops.

Rabi Crops MSP 2023 List, Minimum Support Prices of Rabi Marketing Season (RMS) 2023-24

After this, it was sent to the Union Cabinet for approval. MSP is the rate at which the government buys food grains from farmers. The reason behind the idea of MSP is to counter the volatility in prices of agricultural commodities due to factors such as variation in their supply, lack of market integration, and information asymmetry. MSP has been fixed for 23 crops based on the recommendations of the Commission for Agricultural Costs and Prices (CACP), Ministry of Agriculture.

The increase in MSP for rabi crops for marketing season 2023-24 is in line with the announcement made in the Union Budget 2018-19 to fix MSP at the level of 1.5 times the all-India weighted average cost of production.  The highest rate of fair remunerative return to farmers is 104 percent for rapeseed and mustard, followed by 100 percent for wheat, 85 percent for pulses;  66 percent for gram;  60 percent for barley;  and 50 percent for Safflower. Check here for more details about Rabi Crops MSP List 2023.

Rabi Crops Minimum Support Price 2023- 24 List (Per Quintal)

S.No. Crops Name MSP RMS 2023-24 Cost Production RMS 2023-24
1 Wheat Rs. 2125 Rs. 1065
2 Barley Rs. 1735 Rs. 1082
3 Gram Rs. 5335 Rs. 3206
4 Safflower Rs. 5650 Rs. 3765
5 Mustard & Repressed Rs. 5450 Rs. 2670
6 Lentil (Masur) Rs. 6000 Rs. 3239

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Minimum Support Prices of Rabi Marketing Season (RMS) 2023-24

The MSP for wheat has been increased by Rs 110 from Rs 2,015 per quintal in 2022-23 to Rs 2,125 per quintal in 2023-24, while the MSP for barley has been increased by Rs 100 from Rs 1,635 per quintal to Rs 1,735 per quintal. The minimum support price of chana has been increased by Rs 105 from Rs 5,230 per quintal to Rs 5,335 per quintal, while the MSP of safflower has been increased by Rs 209 from Rs 5,441 to Rs 5,650. The MSP of sarson and mustard has been increased by Rs 400 from Rs 5,050 to Rs 5,450 per quintal.

The highest increase in MSP has been approved for masoor dal, which has been increased by Rs 500 from Rs 5,500 to Rs 6,000. The minimum Support Price is the guaranteed price from the government for their produce.  The main objective is to support farmers through distress sales and to procure food grains for public distribution.  In case the market price of the commodity is less than the declared minimum price due to bumper production and surplus in the market, the government agencies procure the entire quantity from the farmers at the declared minimum price.

Rabi Crops MSP 2023: Conclusion

MSPs acted as minimum prices and were fixed by the government as a long-term guarantee for the investment decisions of producers, with the assurance that prices of their commodities would not be allowed to fall below the level set by the government.  Even in the case of crops.  The procurement prices were the prices of Kharif and Rabi food grains at which public agencies (such as FCI) were to procure food grains domestically for release through PDS.

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