India plans to hike wheat, pulses support prices

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NEW DELHI (Commodity Online): India plans to hike the minimum support price for pulses and wheat in order to boost the production by encouraging farmers.

According to official sources, the Agriculture Ministry has proposed a Rs 20 hike in the minimum support price ( MSP ) of wheat to Rs 1,120 a quintal, while the MSP for pulses could be hiked by up to Rs 420 a quintal.

MSP for mustard seeds would be raised marginally by Rs 20 to Rs 1,850 per quintal. The proposal to increase the MSP of rabi crops is likely to be placed before the Cabinet Committee on Economic Affairs (CCEA) this week, sources said.

The government aims to increase the pulses output by two million tonnes in the 2010-11 crop year to 16.5 million tonnes to achieve this, it had raised the MSP of kharif pulses significantly and now it plans to do the same for rabi pulses such as gram and masoor.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Commodities

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