The Cabinet has decided to hike the minimum support price or MSP for many agricultural products for the Kharif marketing season at a rate that is the highest in many years, Union Food and Public Distribution Minister Piyush Goyal said.
The MSP for moong has been raised 10.4%, for sesame seeds 10.3%, long-staple cotton 10%, groundnut oil 9%, medium staple cotton 8.9% and paddy 7%.
The MSP for Jowar, Bajra, Ragi, Maize, Urad, Tur, Sunflower seeds and oil, among other items, have been raised in the range of 6% to 7%.
The Union Cabinet approved ₹143 hike in paddy MSP to ₹2,183/quintal for 2023-24; highest increase in moong MSP at ₹8,558/quintal.
At the meeting on June 7, the Prime Minister and the Ministers in the Cabinet first expressed sympathy for the loved ones of those who have lost their lives due to the situation in Manipur and Balasore, Mr. Goyal said.
(with inputs from PTI)