The Union Cabinet is likely to have approved a Rs 25 per quintal increase in the minimum support price (MSP) of wheat, taking it to Rs 2,610 per quintal for the 2027-28 rabi marketing year, sources said on Wednesday.
The MSP for wheat for the 2026-27 marketing year (April-March) was fixed at Rs 2,585 per quintal.
Based on the recommendation of the Commission for Agricultural Costs & Prices (CACP), the agriculture ministry had proposed a nominal hike, factoring in the cost of production, El Nino concerns, and global and domestic price trends, the sources said.
The CACP’s recommendation is believed to have been cleared at the Cabinet meeting chaired by Prime Minister Narendra Modi earlier in the day, they added.
The agriculture ministry has set a wheat production target of 121 million tonnes for the 2026-27 crop year (July-June).
Wheat is the main rabi (winter) crop. Sowing usually begins in October, and harvesting starts in April.
Read more at the source
Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and credits belong to the original authors and publishers.