In boost to wheat farmers, Madhya Pradesh unveils Rs 160/quintal bonus MSP

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Updated: March 8, 2019 5:39:51 AM

The new effective rate of Rs 2,000/quintal will be the highest in the country for wheat as no other state has announced bonus.

The arrival of new wheat crop will start in a few days from now, while the marketing season will begin from April 1.

The Madhya Pradesh government on Wednesday announced Rs 160/quintal bonus for wheat growers over and above the minimum support price (MSP) of Rs 1,840/quintal. This comes close on the heels of a likelyhood of the Election Commission announcing the Lok Sabha poll schedule in the next few days.

The bonus is approved by the state cabinet as an incentive for wheat growers for increasing production and to offset the increase in cost of production, a notification of state agriculture department said. The bonus payment will be made directly into the bank accounts of farmers after they sell their produce in mandis and official purchase centres.

Also read | Modi’s Rs 6,000 PM-KISAN gift to small farmers may cut poverty by 20%, Kirit Parikh explains

The new effective rate of Rs 2,000/quintal will be the highest in the country for wheat as no other state has announced bonus.

The Food Corporation of India is targeting to buy 75 lakh tonne of wheat this year from Madhya Pradesh for the central pool stocks, compared to 73 lakh tonne bought last year. The arrival of new wheat crop will start in a few days from now, while the marketing season will begin from April 1. The FCI may start procurement early in MP and Gujarat, officials stated.

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