Minimum Support Prices (MSP) List For All Kharif and Rabi Crops Marketing Season 2024-25

The Cabinet Committee on Economic Affairs (CCEA), led by Honorable Prime Minister Shri Narendra Modi, has given its approval for a hike in the Minimum Support Prices (MSP) of all mandated Kharif crops for the Marketing Season 2023-24. This decision aims to provide greater support and financial security to farmers across the country. The increased MSP will ensure that farmers receive fair remuneration for their produce, encouraging agricultural growth and sustainability. By enhancing the MSP, the government endeavors to promote agricultural productivity, improve rural livelihoods, and strengthen the overall economy. This step underscores the government’s commitment to the welfare of farmers and the agricultural sector.
The increase in Minimum Support Prices for Kharif Crops in the Marketing Season 2023-24 aligns with the announcement made in the Union Budget 2018-19. The objective is to set the MSP at a minimum of 1.5 times the All-India weighted average Cost of Production, ensuring fair remuneration for farmers. The projected profit margins for farmers over their production costs are expected to be highest for bajra at 82%, followed by tur at 58%, soybean at 52%, and urad at 51%. For the remaining crops, the estimated margin for farmers over their production costs is at least 50%. This increase in MSP aims to support farmers’ livelihoods and ensure their financial well-being.

MSP 2023-24 List for All Rabi Crops

S.No.	Crops	MSP RMS 2022-23	MSP RMS 2023-24	Cost* of production RMS 2023-24	Increase in MSP (Absolute)	Return over cost (in per cent)
1	Wheat	2015	2125	1065	110	100
2	Barley	1635	1735	1082	100	60
3	Gram	5230	5335	3206	105	66
4	Lentil (Masur)	5500	6000	3239	500	85
5	Rapeseed & Mustard	5050	5450	2670	400	104
6	Safflower	5441	5650	3765	209	50

*The term “cost” encompasses all the expenses incurred, including paid out costs. This includes expenditures related to hired human labor, bullock or machine labor, rent for leased land, expenses for material inputs such as seeds, fertilizers, and manures, irrigation charges, depreciation on implements and farm buildings, interest on working capital, diesel or electricity used for operating pump sets, miscellaneous expenses, and the imputed value of family labor. These various components are taken into account to calculate the overall cost.

MSP List for Kharif 2023-24

Crops	MSP 2014-15	MSP 2022-23	MSP 2023-24	Cost* KMS 2023-24	Increase in MSP over 2022-23	Margin over cost in per cent
Paddy – Common	1360	2040	2183	1455	143	50
Paddy – Grade A^	1400	2060	2203	–	143	–
Jowar – Hybrid	1530	2970	3180	2120	210	50
Jowar – Maldandi^	1550	2990	3225	–	235	–
Bajra	1250	2350	2500	1371	150	82
Ragi	1550	3578	3846	2564	268	50
Maize	1310	1962	2090	1394	128	50
Tur / Arhar	4350	6600	7000	4444	400	58
Moong	4600	7755	8558	5705	803	50
Urad	4350	6600	6950	4592	350	51
Groundnut	4000	5850	6377	4251	527	50
Sunflower Seed	3750	6400	6760	4505	360	50
Soybean (Yellow)	2560	4300	4600	3029	300	52
Sesamum	4600	7830	8635	5755	805	50
Nigerseed	3600	7287	7734	5156	447	50
Cotton (Medium Staple)	3750	6080	6620	4411	540	50
Cotton (Long Staple) ^	4050	6380	7020	–	640	–

*The term “cost” refers to the total expenses incurred, which encompass various elements such as wages paid to hired human labor, costs associated with bullock or machine labor, rent paid for leased land, expenses related to the use of material inputs like seeds, fertilizers, and manures, charges for irrigation, depreciation on implements and farm buildings, interest on working capital, expenses for diesel or electricity used for operating pump sets, miscellaneous expenses, and the imputed value of family labor. These components collectively contribute to the overall cost calculation.

MSP 2023-24 List PDF

Download MSP MRP Financial Year 2023-24 PDF

https://excise.mp.gov.in/uploads/media/FL_MSP_MRP_2023-24.pdf

Check all list at https://listli.in