Business & Economy

CCEA approves MSPs for Rabi crops of 2014-15 season

NetIndian News Network

New Delhi, October 29, 2014

The Cabinet Committee on Economic Affairs (CCEA) today approved the minimum support prices (MSPs) for rabi crops of the 2014-15 seasn to be marketed in 2015-16.
An official press release said the MSP for wheat had been fixed at Rs 1450 per quintal (as against Rs 1400 in the previous year).
The MSP for barley will be Rs 1150 per quintal (Rs 1100), gram Rs 3175 (Rs 3100), masur (lentil) Rs 3075 (Rs 2950), rapeseed Rs 3100 (Rs 3050) and safflower Rs 3050 (Rs 3000).
The release said the price were fixed on the basis of the recommendations of the Commission for Agricultural Costs and Prices (CACP). The increase will help in higher production through assured remunerative prices to the farmers, it said.
The National Agricultural Cooperative Marketing Federation (NAFED), National Cooperative Consumers’ Federation (NCCF), Central Warehousing Corporation (CWC) and Small Farmers Agri Business Consortium (SFAC) will be the nodal agencies for procurement of oilseeds and pulses, and losses if any, incurred by the nodal agencies in such operations would be fully reimbursed, the release added.
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