STOCKS SEEN FALLING BY APRIL
THE GOVERNMENT IS likely to announce a big hike of around 8% in the minimum support price (MSP) of wheat for the forthcoming rabi marketing season (2024-25) in the wake of the high market prices of the grain.
Higher MSP is expected to encourage farmers to sell wheat to the Food Corporation of India (FCI), and prevent official stocks falling below the buffer.
A food ministry official told FE that with the current mandi prices of wheat hovering around ₹2,400/quintal MSP of against the ₹2,125/quintal for the 2023-24 marketing season (April-June) in key growing states of Punjab, Haryana, Madhya Pradesh and Rajasthan, a higher-than-usual hike in MSP would boost procurement and the government's stocks.
The Centre had hiked MSP of wheat by 6% on year for the 2019-20 marketing season, while the increase in MSP for the current season was 5.45% compared to the previous year.
Denne historien er fra September 04, 2023-utgaven av Financial Express Mumbai.
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Denne historien er fra September 04, 2023-utgaven av Financial Express Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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