Minimum Support Prices (MSPs) For Key Crops in the 2023-24 Cropping Season

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Here is an article on crop MSP for 2023-24 with key highlights, including a graph, table, and explanatory descriptions aimed at students:

The Indian government recently announced minimum support prices (MSPs) for major crops for the 2023-24 crop year. The post analyzes the key highlights from the absolute and percentage MSP hikes across cereals like paddy and wheat, pulses such as moong and urad, oilseeds including groundnut and soybean, and cotton.


Bard Chart Image

As seen in the table and graph, absolute MSP values as well as percentage hikes vis-a-vis last year have been raised across cereals, pulses, oilseeds including groundnuts and soybean, as well as cotton.

The MSP for common paddy has been raised by 7% to Rs. 2,183 per quintal, while the increase is 6.9% for grade A variety to Rs. 2,203 per quintal. This signals the government’s intent to incentivize rice production to ensure national food security.

SI. No. Commodity Variety 2021-22 2022-23 2023-24 Increase over 2022-23
1 Paddy Common 1980 2040 2183 143
2 Paddy Grade A 2000 2060 2203 143
3 Jowar Hybrid 2970 3050 3180 130
4 Jowar Maldandi 3020 3100 3225 125
5 Bajra 2350 2350 2500 150
6 Ragi 3578 3750 3846 96
7 Maize 1962 2000 2090 90
8 Tur (Arhar) 6600 6700 7000 300
9 Moong 7755 7455 8558 1103
10 Urad 6600 6600 6950 350
11 Groundnut 5850 5850 6377 527
12 Sunflower Seed 6400 6400 6760 360
13 Soyabean (yellow) 4300 4300 4600 300
14 Sesame 7830 7830 8635 805
15 Nigerseed 7287 7287 7734 447
16 Cotton Medium Staple 6080 6080 6620 540
17 Cotton Long Staple 6380 6380 7020 640
18 Wheat 2125 2125 2275 150
19 Barley 1735 1735 1850 115
20 Gram 5335 5335 5440 105
21 Lentil (Masur) 6000 6000 6425 425
22 Rapeseed & Mustard 5450 5450 5650 200
23 Safflower 5650 5650 5800 150
24 Toria 5450 5450 5450 0

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