Centre hikes MSP for 14 Kharif crops, support price of paddy increased by Rs 117

NEW DELHI: The Union Cabinet has given permission to increase the support price of paddy by Rs 117 per quintal. The support price will increase to Rs 2,300 per quintal for normal variety (old price Rs 2,183 per quintal) and Rs 2,320 per quintal for grade A variety (old price Rs 2,203 per quintal). It has also been decided to increase support prices for 14 monsoon (Kharif) crops for the 2024-25 marketing season. Higher support prices have been recommended for oilseeds and pulses compared to the previous year. The price is more for niger seed (Rs. 983 per quintal). The price for sesame will increase by Rs 632 per quintal and arhar dal by Rs 550 per quintal.

At the same time, in Kerala, the farmers are due to receive Rs. 500 crores in the entire state. Farmers are running out of money, even for seeds and fertilizers. Crops were poor due to the harsh summer and heat wave. No compensation or insurance assistance was provided for crop damage. Out of the 31,519 farmers who have done second cultivation in Kuttanad, 25,170 paddy receipt sheets (PRS) have been handed over to the banks by Supplyco. Out of this, only Rs 76.15 crores were distributed to 8824 farmers in Alappuzha. 6349 farmers are due to receive the money handed over for paddy.

Banks pay the price of stored paddy by taking PRS and giving loans to the farmers. SBI and Canara Bank say that the entire amount earmarked for farmers has been given as loans. The money will be available to the remaining farmers only if the disbursed amount is returned to the supply banks or the loan limit is increased.