Commodities
India Hikes Wheat Support Price by 25 Rupees Per Quintal
The Indian government has approved a hike in the minimum support price (MSP) of wheat for the 2027-28 rabi marketing year. The MSP will increase by Rs 25 per quintal, taking it to Rs 2,610 per quintal.
According to Information and Broadcasting Minister Ashwini Vaishnaw, the production cost of wheat is Rs 1,264 per quintal, while the MSP for the 2027-28 marketing year has been fixed at Rs 2,610 per quintal. This means that the support price is more than double the cited production cost.
The revised MSPs have been announced ahead of the upcoming rabi sowing season, which usually begins in October and harvesting starts in April. The government has also set a wheat production target of 121 million tonnes for the 2026-27 crop year.