India govt may hike wheat MSP by Rs 100 per quintal.

The government may hike the minimum support price of wheat by Rs 100 to Rs 1,725 a quintal for this year. A decision in this regard is likely to be taken in the Cabinet Committee on Economic Affairs (CCEA) meeting scheduled for Oct 24. The MSP is the rate at which government buys the grain from farmers. At present, wheat MSP is Rs 1,625 per quintal. The MSP of rabi crops, including wheat for the 2018-19 marketing year, is on the agenda of the CCEA meeting on Oct 24. The proposal is to raise the support price for wheat by Rs 100 per quintal for 2018-19,” the source said. Wheat is the main rabi crop, sowing of which will begin from this month. The crop will be marketed from next year April onwards.