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LATEST NEWS UPDATES | Wheat Purchase Price Up By 2%, Lowest In A Decade, Amid Farmers' Protest -Akhilesh Sharma

Wheat Purchase Price Up By 2%, Lowest In A Decade, Amid Farmers' Protest -Akhilesh Sharma

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published Published on Sep 8, 2021   modified Modified on Sep 9, 2021

-NDTV

MSP Hike: The minimum support price (MSP) for mustard seed has also been raised by 400 to 5,050 per quintal for the current crop year

New Delhi: The centre has raised the price it will pay to buy new-season wheat from farmers by 2 per cent - the lowest in a decade - to 2,015 per 100 kg. The country is the world's second-biggest wheat consumer and sets a price each year to protect farmers from distress sales and to cover emergency needs.

The minimum support price (MSP) for mustard seed has been raised by 400 to 5,050 per quintal for the current crop year. The cost of production of wheat is estimated at 1,008 per quintal, the centre said in a statement.

MSP is the rate at which the government buys grain from farmers. Currently, the government fixes MSPs for 23 crops grown in both kharif (summer) and rabi (winter) sowing seasons.

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NDTV, 8 September, 2021, https://www.ndtv.com/india-news/minimum-support-price-for-wheat-raised-by-2-to-rs-2-015-per-100-kg-amid-farmers-protest-2533944?fbclid=IwAR2mlZ6P2gnnGdTJBxNAf4n6drKkWMji5e4XWtdv8gGtVjukaYj1X3YC0GY


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