Fact Box: Minimum Support Price (MSP)
- MSP is the lowest price set by the government for purchasing crops from farmers. The government declares these rates each season to guarantee fair prices for farmers, promoting increased investment and production.
- Crops Covered:
- Kharif crops such as Paddy, Jowar, Bajra, Ragi, Maize, Arhar, Moong, Urad, Cotton, Groundnut, Sunflower Seed, Soybean, and Sesamum.
- Rabi crops such as Wheat, Barley, Gram, Masur, Rapeseeds & Mustard, Safflower, and Toria.
- Additionally, MSP is announced for Copra, De-husked Coconut, Jute, and Fair Remunerative Prices are declared for Sugarcane.
- The Commission for Agricultural Costs & Prices (CACP), an attached office of the union agricultural ministry, suggests MSPs for specific crops.
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