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Quixplained: What is MSP and how is it determined?

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  • Minimum support price (MSP) is a “minimum price” for any crop that the government considers as remunerative for farmers and hence deserving of “support”.
  • It is also the price that government agencies pay whenever they procure the particular crop.
  • The Centre currently fixes MSPs for 23 farm commodities — 7 cereals (paddy, wheat, maize, bajra, jowar, ragi and barley), 5 pulses (chana, arhar/tur, urad, moong and masur), 7 oilseeds (rapeseed-mustard, groundnut, soyabean, sunflower, sesamum, safflower and nigerseed) and 4 commercial crops (cotton, sugarcane, copra and raw jute).

https://indianexpress.com/article/explained/minimum-support-price-msp-farmers-explained-6706253/

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