India govt should fix MSP for basmati, say farmers.

Buoyed by the steep increase in the prices of 1121 Basmati rice this season in comparison to last year, farmers of Punjab have demanded that the Centre should announce the minimum support price (MSP) for basmati rice to help the farmers to come out of financial mess. The 1509 basmati rice fetched Rs 2,500 as compared to Rs 1,600 last year, while the 1121 basmati rice fetched Rs 3,500 to Rs 4,000 this year as compared to Rs 2,500 last year. The price of superior basmati rice variety of 1121 has witnessed 25 per cent jump in the wholesale market as the rice which was available for Rs 8,000 per quintal was now being sold for Rs 10,000.