Government
fixes support price of wheat at Rs750 per quintal
news
30 October 2006
Mumbai: The cabinet committee on economic affairs (CCEA) has fixed the minimum support price of wheat at Rs750 per quintal for the rabi season against Rs650 plus Rs50 bonus fixed last year.
The CCEA also fixed the MSP of mustard at Rs1,715 per quintal as against Rs1,600 suggested by the committee on agricultural costs and prices (CACP).
The support price for barley has been fixed at Rs565 per quintal, for gram at Rs1,455 and masur and lentils at Rs1,545.
Speaking to reporters after the meeting of the CCEA, finance minister P Chidambaram said the MSP for wheat at Rs750 was higher than the Rs700 recommended by the CACP.
"The MSP for wheat has been fixed at Rs750 per quintal. This is an adequate and remunerative price," he said.
The agriculture ministry had suggested MSP at Rs750 plus bonus for higher wheat procurement, while the CACP had recommended Rs700 as the minimum support price, he said.
