Union Cabinet Approves Significant Rise in Kharif Crop Minimum Support Prices
Cabinet clears Rs 2.60 lakh crore Kharif MSP at 50% above cost
The Economic Times
Image: The Economic Times
The Union Cabinet of India has approved a substantial increase in Minimum Support Prices (MSP) for 14 Kharif crops for the 2026-27 marketing season, with the highest increase for Sunflower Seed at ₹622 per quintal. All MSPs are set at least 50% above production costs, supporting an estimated procurement of 824.41 lakh metric tonnes.
- 01Union Cabinet approved MSP increases for 14 Kharif crops.
- 02Sunflower Seed received the highest increase of ₹622 per quintal.
- 03All MSPs are set at least 50% above the cost of production.
- 04The government anticipates procurement of approximately 824.41 lakh metric tonnes.
- 05Decision based on recommendations from the Commission for Agricultural Costs and Prices.
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On Wednesday, the Union Cabinet of India approved a significant increase in Minimum Support Prices (MSP) for 14 Kharif crops for the 2026-27 marketing season. Sunflower Seed saw the highest absolute increase of ₹622 per quintal, bringing its new rate to ₹8,267. Cotton (Medium Staple) followed closely with an increase of ₹557, while Nigerseed and Sesamum also received notable boosts of ₹515 and ₹500, respectively. The government has set all MSPs at least 50% above the cost of production, aligning with a policy established in 2019. This decision is expected to facilitate the procurement of around 824.41 lakh metric tonnes during the Kharif marketing season, based on recommendations from the Commission for Agricultural Costs and Prices, as stated by Union Minister Ashwini Vaishnaw.
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This MSP increase will provide farmers with better income security, potentially improving their livelihoods and encouraging agricultural investment.
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