Support Prices, Procurement and Stock of Foodgrains
1.15 Government of India fixes the Minimum Support Prices (MSPs) for various crops so as to provide
remunerative prices to farmers and avoid distress sale by them. The per quintal MSPs announced by GoI for sugarcane, wheat and paddy were increased to Rs.79.50 (by 6.7%), Rs.650 (by 1.6%), and Rs.600 (by 1.7%), respectively, during 2005-06, over the previous year. The procurement of rice and wheat during 2005-06 aggregated 41.2 million tonnes, as compared to 40.7 million tones during 2004-05. The total stock of foodgrains with the Food Corporation of India and the State agencies was
19.5 million tonnes as on 1 February 2006, 9.5 per cent lower as compared to the previous year, as also lower than the buffer stock norm of 20 million tonnes
National Bank for Agriculture and Rural Development
