MSP for Rabi Crops 2023-24 | Crops MSP For Rabi Marketing Season (RMS) 2024-25

Central government approved increase in MSP for Rabi Crops 2023-24 which are to be marketed in the next year. Any individual can now check minimum support prices for all mandated rabi crops for Rabi Marketing Season 2024-25. Now the Rabi Crops MSP 2023-24 (MSP for Rabi Marketing Season - RMS 2024-25) are increased in line with the recommendations of Swaminathan Commission.

Rabi crops are grown in winter and harvested in spring. The new raised Rabi Crops MSP 2023-24 will be applicable for crops to be marketed in Rabi Marketing Season (RMS) 2024-25. Increase in msp for rabi crops 2023-24 is a major step towards doubling farmer's income by 2024 & improving their welfare substantively. 

Check MSP for Rabi Crops 2023-24 (MSP RMS 2024-25)

Here we are providing you the complete table specifying rabi crops 2023-24 minimum support price or MSP for RMS 2024-25 where all values are in Rs. / Quintal unless specified.

Crops	MSP RMS 2023-24	MSP RMS 2024-25	Cost of Production (2024-25)	Increase in MSP (Absolute)	Margin over cost (in percent)
Wheat	2125	2275	1128	150	102
Barley	1735	1850	1158	115	60
Gram	5335	5440	3400	105	60
Lentil (Masur)	6000	6425	3405	425	89
Rapeseed and Mustard	5450	5650	2855	200	98
Safflower	5650	5800	3807	150	52

What is Cost of Production?

Cost of production refers to cost which includes all paid out costs such as those incurred on account of hired human labour, bullock labour/machine labour, rent paid for leased in land, expenses incurred on use of material inputs like seeds, fertilizers, manures, irrigation charges, depreciation on implements and farm buildings, interest on working capital, diesel/electricity for operation of pump sets etc., miscellaneous expenses and imputed value of family labour.

The increase in MSP for Rabi crops for marketing season 2024-25 is in line with the principle of fixing the MSPs at a level of at least 1.5 times of the All-India weighted average Cost of Production as announced in Union Budget 2018-19.

Absolute Increase in MSP for Rabi Crops 2023-24 (RMS 2024-25) 

The highest increase in MSP has been announced for lentil (Rs. 425 per quintal) and rapeseed & mustard (Rs. 200 per quintal) followed by safflower and wheat (Rs. 150 per quintal). For barley and gram, an increase of Rs. 115 and Rs 105 per quintal respectively has been announced. The differential remuneration is aimed at encouraging crop diversification.

Margin Over Cost for MSP RMS 2024-25

The expected margin over All-India weighted average Cost of Production is 102% for wheat, followed by 98% for rapeseed & mustard; 89% for lentil; 60% for gram; 60% for barley; and 52% for safflower. This increased MSP of rabi crops will ensure remunerative prices to the farmers and incentivise crop diversification.

Govt. to Promote Crop Diversification

Government is promoting crop diversification towards oilseeds, pulses and shree anna/millets to enhance food security, increase farmers' income, and reduce dependence on imports. Besides the Price Policy, the Government has undertaken various initiatives such as the National Food Security Mission (NFSM), Pradhan Mantri Krishi Sinchayee Yojana (PMKSY), and the National Mission on Oilseeds and Oil Palm (NMOOP) with the objective to provide financial support, quality seeds to encourage farmers to cultivate oilseeds and pulses.

Moreover, to extend the benefits of the Kisan Credit Card (KCC) Scheme to every farmer across the nation, Government has launched the Kisan Rin Portal (KRP), KCC Ghar Ghar Abhiyaan, and Weather Information Network Data Systems (WINDS) with the aim to provide timely and accurate weather information to empower farmers in making timely decisions regarding their crops. These initiatives aim to revolutionize agriculture, enhance financial inclusion, optimize data utilization, and improve the lives of farmers across the nation.

Data sources is PIB article - https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1968729