NEW DELHI: As sowing picks up across the country, the Cabinet Committee on Economic Affairs (CCEA) on Thursday approved increasing the minimum support prices (MSP) of kharif crops for 2013-14 crop year (July-June). The increase is expected to boost the sowing of paddy, cotton, oilseeds like soybean, millets and pulses crop in the country. On the basis of recommendations given by Commission for Agricultural Costs and Prices (CACP), the MSP is increased. However, the agriculture ministry changed the proposal for bajra and tur/arhar.
"The agriculture minister's recommendation has been accepted by the CCEA," said a person in the know after the CCEA meeting got over. The MSP of paddy, which constitutes more than 60% of the kharif crop in the country, has seen a Rs 60 increase at Rs 1,310 a quintal for common variety while for grade there has been a Rs 65 increase to Rs 1,345 per quintal.
Cotton prices for medium staple variety increased by Rs 100 to Rs 3,700 per quintal and Rs 4,000 per quintal for long staple.
Cotton sowing has been covered on 28.13 lakh hectares across the Northern and Western belt of the country. Currently prices in the spot market were ruling at 4,100 a quintal. Till June 21, kharif sowing picked up with the early onset of monsoon, crossing 109.07 lakh hectares, with maximum area under sugarcane at 44.55 lakh hectares, followed by cotton at 28.13 lakh hectares and paddy at 16.40 lakh hectares. The MSP of bajra as per agriculture ministry has been kept at Rs 1,250 per quintal, an increase of Rs 75 per quintal from the 2012-13 seasons. CACP had recommended no increase in the MSP for bajra this year.
Similarly, tur/arhar MSP price has been kept at 4,300, an increase of 450 from the original recommendation of CACP of Rs 3,850 a quintal. This is expected to lead to an increase in pulses acreage. Sources said that with imported pulses prices cheaper than the domestic price, there could be a likely 10% import duty imposed on the pulses to help the domestic farmers. Moong prices saw a rise of 100 to touch Rs 4,500 per quintal. Urad prices remain similar to the previous year with the MSP at Rs 4,300 per quintal. The increase has come at a time when annual rate of inflation based on wholesale price index fell to 43-month low at 4.7%. The MSP of yellow soyabean has seen a hike of Rs 320 to Rs 2,560 a quintal and for soyabean (black) to Rs 2,500 a quintal a rise of Rs 300.
The MSP of sesamum have been increased by Rs 300 per quintal over the last year's MSPs and have been fixed at Rs 4,500 per quintal. However, MSP of sunflower seed and nigerseed have been kept unchanged at Rs 3,700 per quintal and Rs 3,500 per quintal.
Source:-economictimes.indiatimes.com
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