India hikes support price for wheat by 14.7 per cent to Rs1,285 a quintal

The government today announced a Rs165 (or 14.7 per cent) increase in the minimum support price (MSP) for wheat for the rabi season, to be marketed in 2012-13, to Rs1,285 a quintal.

MSP for wheat was Rs1,170 per quintal in the 2011-12 marketing year (April-June).

The decision was taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA) in New Delhi, which approved the MSPs for rabi crops of 2011-12, on Tuesday.

The CCEA raised the MSP of barley by Rs200 to Rs980 per quintal.

The support prices of pulses like gram and masur (lentil) have been fixed at Rs2,800 per quintal, representing increases of Rs700 per quintal and Rs550 per quintal, respectively, over their last year's levels.

The MSPs of rapeseed/mustard and safflower have been increased by Rs650 per quintal and Rs700 per quintal, respectively, to Rs2,500 per quintal each.