India Boosts Oilseed Production with Steeper Hikes for Edible Oils

The Indian government has announced increased minimum support prices (MSPs) for winter-sown crops, including wheat, gram, and mustard seeds, as part of efforts to boost oilseed production and reduce edible oil imports. The MSP for wheat was raised by a modest 1% to Rs 2,610/quintal for the 2027-28 marketing season.

The government also approved an increase in the remunerative price for safflower seed to Rs 7215/quintal, with the aim of boosting production of sunflower oils and reducing import dependence on edible oil. The MSP for mustard seeds was hiked by Rs 413/quintal or an increase of 6.6% to Rs 6613/quintal.

According to Ashwini Vaishnaw, Information and Broadcasting Minister, the production cost of wheat is Rs 1,264/quintal, but MSP has been kept more than double at Rs 2,610/quintal for 2027-28. The government aims to procure 32.4 MT of rabi crops including wheat, mustard, gram, and lentils under which Rs 90,962 crore will be paid to farmers against the MSP purchase.