The Cabinet Committee on Economic Affairs (CCEA) has approved new MSP price list for rabi and kharif crops. The increase in the Minimum Support Price (MSP) for all mandated rabi crops for marketing season 2023-24 and Minimum Support Price (MSP) for kharif crops during the marketing season 2023-24.
New MSP price list raised for rabi crops MSP 2023-24 will be applicable for crops to be marketed in rabi marketing season (RMS) 2022-23. This new MSP policy will assure minimum 50% as margin of profit. Increase in rabi crops MSP 2023-24 is a major step towards doubling farmer’s income by 2024 & improving their welfare substantively.
New MSP Price List 2023-24
Government has increased the MSP of rabi crops for RMS 2023-24, to ensure remunerative prices to the growers for their produce. The highest absolute increase in MSP over the previous year has been recommended for Lentil (Masur) and Rapeseeds & Mustard (Rs.400 per quintal each) followed by gram (₹130 per quintal). In case of Safflower there has been an increase of ₹114 per quintal in comparison to last year 2022-23.
1. Paddy - ₹2183
2. Paddy Grade A - ₹2203
3. Jowar Hybrid - ₹3180
4. Jowar Maldandi - ₹3225
5. Bajra - ₹2500
6. Ragi - ₹3846
7. Maize - ₹2090
8. Tur/Arhar - ₹7000
9. Moong - ₹8558
10. Urad - ₹6950
11. Groundnut - ₹6377
12. Sunflower Seed - ₹6760
13. Soyabean (Yellow) - ₹4600
14. Sesamum - ₹8635
15. Nigerseed - ₹7734
16. Cotton (Medium Staple) - ₹6620
17. Cotton (Long Staple) - ₹7020
Under the chairmanship of Prime Minister Shri @narendramodi Ji, the Union #Cabinet has granted approval for an augmented Minimum Support Price (MSP) for Kharif Crops during the Marketing Season 2023-24.
This significant decision aims to guarantee fair and lucrative prices to… pic.twitter.com/jSDeyqJdNT— Nitin Gadkari (@nitin_gadkari) June 7, 2023
New MSP Price List 2023-24 for Rabi Crops
These new MSPs for rabi crops for 2023-24 season will includes all paid out costs which are incurred by farmers on following things.
- Hired human labour,
- Bullock labour/machine labour
- Rent incurred for leased in land
- Expenses incurred on material inputs like seeds, fertilizers, manures
- Irrigation charges
- Depreciation on implements and farm buildings
- Interest on working capital
- Diesel / electricity for operation of pump sets
- Imputed value of family labour
| S.No. | Crops | MSP RMS 2021-22 | MSP RMS 2022-23 | MSP RMS 2023-24 | Cost* of production RMS 2023-24 | Increase in MSP (Absolute) | Return over cost (in per cent) |
|---|---|---|---|---|---|---|---|
| 1 | Wheat | 1975 | 2015 | 2125 | 1065 | 110 | 100 |
| 2 | Barley | 1600 | 1635 | 1735 | 1082 | 100 | 60 |
| 3 | Gram | 5100 | 5230 | 5335 | 3206 | 105 | 66 |
| 4 | Lentil (Masur) | 5100 | 5500 | 6000 | 3239 | 500 | 85 |
| 5 | Rapeseed & Mustard | 4650 | 5050 | 5450 | 2670 | 400 | 104 |
| 6 | Safflower | 5327 | 5441 | 5650 | 3765 | 209 | 50 |
New MSP Price List 2023-24 for Kharif Crops
Minimum Support Prices for Kharif Marketing Season (KMS) 2023-24
| Crops | MSP 2014-15 | MSP 2022-23 | MSP 2023-24 | Cost* KMS 2023-24 | Increase in MSP over 2022-23 | Margin over cost in per cent |
|---|---|---|---|---|---|---|
| Paddy - Common | 1360 | 2040 | 2183 | 1455 | 143 | 50 |
| Paddy - Grade A | 1400 | 2060 | 2203 | - | 143 | - |
| Jowar - Hybrid | 1530 | 2970 | 3180 | 2120 | 210 | 50 |
| Jowar - Maldandi | 1550 | 2990 | 3225 | - | 235 | - |
| Bajra | 1250 | 2350 | 2500 | 1371 | 150 | 82 |
| Ragi | 1550 | 3578 | 3846 | 2564 | 268 | 50 |
| Maize | 1310 | 1962 | 2090 | 1394 | 128 | 50 |
| Tur / Arhar | 4350 | 6600 | 7000 | 4444 | 400 | 58 |
| Moong | 4600 | 7755 | 8558 | 5705 | 803 | 50 |
| Urad | 4350 | 6600 | 6950 | 4592 | 350 | 51 |
| Groundnut | 4000 | 5850 | 6377 | 4251 | 527 | 50 |
| Sunflower Seed | 3750 | 6400 | 6760 | 4505 | 360 | 50 |
| Soybean (Yellow) | 2560 | 4300 | 4600 | 3029 | 300 | 52 |
| Sesamum | 4600 | 7830 | 8635 | 5755 | 805 | 50 |
| Nigerseed | 3600 | 7287 | 7734 | 5156 | 447 | 50 |
| Cotton (Medium Staple) | 3750 | 6080 | 6620 | 4411 | 540 | 50 |
| Cotton (Long Staple) | 4050 | 6380 | 7020 | - | 640 | - |
New MSP Price List 2023-24 PDF Download - Rabi & Kharif Crops
Government has approved the increase in MSPs for mandated Kharif Crops for marketing season 2023-24. The decision of the Government to increase Kharif crops MSP fulfills the commitment to the farmers to provide at least 50% return over cost of production. The details of MSps for Kharif Crops 2023-24 are given below.
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