5 days ago
Cotton MSP hiked by 589, taking rates to 7,710-8,110/q
Nagpur: The govt has increased the minimum support price (MSP) for cotton, the major crop of the region, by Rs589. This takes the rates for long staple cotton to Rs8,110 a quintal and Rs7,710 per quintal for the medium staple grade.
A section of farmers and activists said it was expected that MSP will be taken to at least Rs8,500 a quintal. According to govt calculations, cost of cultivation per quintal of cotton comes to Rs5,140. Against this, MSP of Rs8,110 leaves margin of Rs2,970 on each quintal of long staple cotton.
Charudutta Mayee, ex-director of Central Institute of Cotton Research (CICR), said, "MSP should have been fixed at Rs8,500 a quintal to leave a decent profit for farmers."
MSP for soyabean, the second major crop, has been increased by Rs436 to Rs5,328 a quintal. Rates of tur have been hiked by Rs450, taking it to Rs8,000 a quintal. The MSP for paddy has been hiked by Rs69, taking it to Rs2,369 a quintal.
