Wheat Purchase Price Up By 2%, Lowest In A Decade

Wednesday, 8 September 2021Newsdesk

The centre has raised the price it will pay to buy new-season wheat from farmers by 2 per cent - the lowest in a decade – to Rs.2,015 per 100 kg.

New Delhi, 08 September2021

As per news report of NDTV, the country is the world's second-biggest wheat consumer and sets a price each year to protect farmers from distress sales and to cover emergency needs.The minimum support price (MSP) for mustard seed has been raised by Rs.400 toRs.5,050 per quintal for the current crop year. The cost of production of wheat is estimated at Rs.1,008 per quintal, the centre said in a statement.MSP is the rate at which the government buys grain from farmers. Currently, the government fixes MSPs for 23 crops grown in both kharif (summer) and rabi (winter) sowing seasons.

Source - NDTV