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Newsline-National | August 2019

MSP on kharif cotton of 2019-20 season hiked

Giving a major boost to the farmers’ income, the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi has approved the increase in the Minimum Support Prices (MSPs) for all kharif crops, including cotton, for 2019-20 season. The move will lead to increased investment and production through assured remunerative prices to the farmers.

The MSP for medium staple cotton has been raised by Rs 105 per quintal to Rs 5,255 per quintal. Likewise, the MSP for long staple cotton has been raised by Rs 100 per quintal to Rs 5,550 per quintal, according to an official statement.

For medium staple cotton, the estimated cost of production is Rs 3,501 per quintal, which includes all paid out costs such as those incurred on account of hired human labour, bullock labour/machine labour, rent paid for leased in land, expenses incurred on use of material inputs like seeds, fertilisers, manures, irrigation charges, depreciation on implements and farm buildings, interest on working capital, diesel/electricity for operation of pump sets, etc.

The increase in MSP for Kharif crops for 2019-20 season is in line with the principle of fixing the MSPs at a level of at least 1.5 times of the all India weighted average cost of production (CoP), which was announced in the budget 2018-19.

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