Declaration of MSP for 2022-23

Declaration of MSP for 2022-23
New Delhi, 08-06-2022
The Central Committee on Economic Affairs (CCEA) has approved the Minimum Support Price (MSP) for Kharif crops for 2022-23.
Yield can be guaranteed at a reasonable price.

* All paid expenses are included in terms of expenses. Wages paid to daily wage labourers, bullock labour/machine labour, rent of land leased, cost of material like seeds, manure, manure, irrigation etc., on use of materials such as wear and tear on tools and farm buildings Expenses include the capital required to operate the pump set in doing the work, interest on diesel or electricity, miscellaneous costs and the applicable value of domestic remuneration.

^ Expenditure data for paddy (Grade A), jowar (Maldandi) and cotton (long fibre) are not compiled separately.

The MSP was declared to be at least 50 per cent higher than the weighted average cost of production. The announcement was made with the aim of ensuring fair remuneration to the farmers. It may be noted here that the return on MSP for bajra, tur, urad, sunflower seed, soybean and groundnut is more than 50 per cent of the all India average cost of production.

More attention is being paid to oil crops.
According to the third advance forecast for the year 2021-22, the country’s foodgrain production is estimated to be at a record amount of 314.51 million tonnes which is 3.77 million tonnes more than the foodgrain production during 2020-21. The production during 2021-22 is higher by 23.80 million tonnes than the average grain production in the last five years (2016-17 to 2020-21).