India Lifts Rabi MSP 5%
DELHI - Oct 3/18 - SNS -- The Indian government increased minimum support prices (MSP) for the main pulses grown during the coming rabi season by 5% in local currency terms.
However, recent weakness in the rupee will see the MSP drop 3% in U.S. dollar terms for a modest reduction in price levels before which imported peas, desi chickpeas and red lentils would be seen as competitive substitutes for locally grown product.
Increasing the MSP is to levels which are at least 50% over the average cost of production is part of the government's promise to double gross farm incomes and become self sufficient in pulses and other crops.
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