Business · Energy & Commodities · 16 hrs ago

Prices for most Indian kharif crops exceed minimum support levels

Prices for most Indian kharif crops exceed minimum support levels

Prices for most kharif crops in India are above government support levels as traders expect weather damage to reduce supplies.

Kharif crops are grown during India’s monsoon season, and the government sets minimum support prices, or MSPs, for many crops.

Drought and untimely rain have affected yields, while recent cyclones in southern India are also part of the production assessment.

The Agriculture Ministry is still working on its estimate of this season’s output.

Urad production is now expected at 8–9 lakh tonnes, down from an earlier expectation of 15 lakh tonnes, according to a trader quoted in the story.

Maize prices have risen 30–40 per cent in four to five weeks, with buyers reporting historically high prices.

Higher market prices can mean more income for farmers, but some varieties of moong and bajra are still selling below MSP.

The story says urad and tur prices are expected to remain high, while paddy prices may fall as arrivals peak.

1 source

Related

What people are saying

Siraj HussainFormer agriculture secretary
Mandi prices are slightly higher than the MSP of various crops due to lower production hit by El Nino.
via Hindu BusinessLine
Rampal JatPresident, Kisan Mahapanchayat, Jaipur
At an all-India level, market prices for agricultural produce are being reported as higher than the MSP. This is a positive development.
via Hindu BusinessLine
Sumit SurekaChairman, CLFMA of India
In my more than 30 years of career in this (livestock feed) industry, I have never seen these kinds of prices in maize.
via Hindu BusinessLine