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India Raises Rabi Season MSP

NEW DELHI - Sep 21/20 - SNS -- The India government increased minimum support prices (MSP) for the coming rabi season crop, while at the same time saying it hopes to see pulse production reach 26.5 million metric tons (MT) across the current kharif and rabi production cycle.

Intended to cover basic production costs, the MSP for lentils and chickpeas was set at Rs. 5100 per 100 kilograms for both crops, representing a 5% increase of this year for chickpeas and 6% advance for lentils.

In U.S. dollar terms, the MSP is $689 MT for both crops, compared to this year's rate of $667 for chickpeas $657 MT for lentils.

In announcing the increase, the Indian government said in a statement the increases reflect the country's "nutritional requirements and changing dietary pattern (with the goal of reaching) self-sufficiency in pulses and oilseeds production.

"The highest increase in MSP has been announced for lentil (Rs. 300 per quintal) followed by gram and rapeseed and mustard (Rs. 225 per quintal each) and safflower (Rs. 112 per quintal). For barley and wheat, an increase of Rs. 75 per quintal and Rs 50 per quintal respectively has been announced. The differential remuneration is aimed at encouraging crop diversification."

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