The government on Wednesday approved a 6.59% hike in the minimum support price of wheat, raising it to Rs 2,585 per quintal for the 2026-27 marketing season, compared to Rs 2,425 per quintal in the previous year.
The decision was taken at a Cabinet meeting chaired by Prime Minister Narendra Modi. Announcing the move, Information and Broadcasting Minister Ashwini Vaishnaw said the Cabinet cleared the MSP for six rabi crops for 2026-27, based on the recommendations of the Commission for Agricultural Costs and Prices.
-
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI -
"I Am A Material Man In A Material World': Quantum Advisors' Ajit Dayal On NDTV Profit Ignite
In terms of absolute increase, safflower saw the steepest rise of Rs 600 per quintal, followed by lentil (masur) at Rs 300 per quintal. The MSP of rapeseed and mustard has been raised by Rs 250 per quintal, gram by Rs 225 per quintal, barley by Rs 170 per quintal, and wheat by Rs 160 per quintal.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
The MSP for barley has been increased to Rs 2,150 per quintal from Rs 1,980 per quintal.
Among key rabi pulses, the support price for gram has been fixed at Rs 5,875 per quintal, up from Rs 5,650 per quintal, while lentil MSP has been raised to Rs 7,000 per quintal from Rs 6,700 per quintal.
For oilseeds, the MSP of rapeseed and mustard has been raised to Rs 6,200 per quintal from Rs 5,950 per quintal, while safflower support price has been increased to Rs 6,540 per quintal from Rs 5,940 per quintal.
The increased MSP for rabi crops is aimed at ensuring remunerative prices for farmers and incentivising crop diversification.
The hike is in line with the Union Budget 2018-19 announcement of fixing MSP at a level of at least 1.5 times the all-India weighted average cost of production.
The expected margin over all-India weighted average cost of production is 109% for wheat, 93% for rapeseed and mustard, 89% for lentil, 59% for gram, 58% for barley, and 50% for safflower.
Wheat is the main rabi (winter) crop, with sowing beginning from late October and harvesting from March onwards.
The wheat marketing year starts from April and much of the grain is procured by June. Other rabi crops include jowar, barley, gram and lentil.
The government has set a record wheat production target of 119 million tonne for the 2025-26 crop year (July-June), as against the actual output estimated at a record 117.5 million tonne for 2024-25.
(With inputs from PTI).
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
