India Boosts Kharif MSP
VANCOUVER - Jun 17/15 - SNS -- India increased minimum support prices (MSP) for pulses grown during the monsoon or kharif growing season between 5% and 6% over last year, effective October 1.
At the same time, the government directed that a "credible procurement mechanism for pulses and oilseeds be put in place if the need arises."
India has long bought rice and wheat when market values drop below the MSP, but the MSP for other crops has only been a psychological factor in markets.
This partly represents the need to balance the conflicting interests of farmers and consumers. The government wants to boost prices to farmers, while preventing prices from increasing in retail markets.
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