Government Raises Wheat Minimum Support Price By 6% For 2018-19

Mumbai: Government raised the minimum support price (MSP) -- price at which it buys new-season wheat from local farmers -- by Rs 105, or 6 per cent, the farm minister said on Wednesday. The revised purchase price of Rs 1,840 rupees ($25.09) per 100 kg for 2019 compares with Rs 1,735 a year ago, Agriculture Minister Radha Mohan Singh said.

India, the world's second-biggest rice and wheat producer, buys the grain from local farmers at state-set prices to build stocks to run a major food welfare programme.

Earlier, Reuters had reported that India was set to raise support price of wheat by 6 per cent on Wednesday due to growing farmer discontent.

The government also raised support price of chickpea and rapeseed to Rs 4,620 and Rs 4,200 respectively, per 100 kg, Mr Singh added.