Commodities
India's Union Cabinet Hikes Wheat MSP by Rs 25 to Rs 2,610 per Quintal
The Union Cabinet 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, up from Rs 2,585 per quintal for the current crop year.
The decision was made based on a recommendation from the Commission for Agricultural Costs & Prices (CACP), which factored in cost of production, El Nino concerns, and global and domestic price trends.
The agriculture ministry has set a wheat production target of 121 million tonnes for the current crop year, with sowing usually beginning in October and harvesting starting in April.