India Hikes Rabi MSP
VANCOUVER - Oct 30/14 - SNS -- India's Cabinet Committee on Economic Affairs has approved increases in Minimum Support Prices (MSP) for the coming rabi season crops.
In making the announcement, India's agriculture department said, "The National Agricultural Cooperative Marketing Federation (NAFED), National Cooperative Consumers' Federation (NCCF), Central Warehousing Corporation (CWC) and Small Farmers Agri Business Consortium (SFAC) will be the nodal agencies for procurement of oilseeds and pulses, and losses if any, incurred by the nodal agencies in such operations would be fully reimbursed. . . .
"This will help in higher production through assured remunerative prices to the farmers," the agriculture department asserted.
With the change, the MSP for gram or chickpeas will rise 2% to Rs 3175 per 100 kilograms or roughly 3% in U.S. dollar terms to $521 per metric ton (MT). The MSP for masur or red lentil will increase 4% to Rs 3075 or 5% in U.S. dollar terms to $504 MT.
Only active subscribers can read all of this article.
If you are a subscriber, please log into the website.
If you are not a subscriber, click here to subscribe to this edition of the STAT website and to learn more about becoming a subscriber.
