New Delhi, May 13: The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, on Wednesday approved the increase in the Minimum Support Prices (MSP) for 14 kharif crops for Marketing Season 2026-27 to ensure remunerative prices to farmers.

The highest absolute increase in MSP over the previous year has been recommended for sunflower seed at ₹622 per quintal, followed by cotton (₹557 per quintal), nigerseed (₹515 per quintal), and sesamum (₹500 per quintal), according to an official statement issued on Wednesday.

The increase in MSP for kharif crops for Marketing Season 2026-27 is in line with the Union Budget 2018-19 announcement of fixing the MSP at a level of at least 1.5 times of the all-India weighted average cost of production.

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The expected margin to farmers over their cost of production is estimated to be highest in the case of moong (61 per cent), followed by bajra (56 per cent), maize (56 per cent), and tur/arhar (54 per cent). For the rest of the crops, the margin to farmers over their cost of production is estimated to be at 50 per cent, the statement said.

In recent years, the government has been promoting the cultivation of crops other than cereals, such as pulses and oilseeds, and nutri-cereals/'Shree Anna', by offering a higher MSP for these crops.

During the period 2014-15 to 2025-26, MSP amount paid to paddy-growing farmers was ₹16.08 lakh crore, while during the period 2004-05 to 2013-14, the amount paid to farmers was ₹4.44 lakh crore.

During 2014-15 to 2025-26, the MSP amount paid for 14 kharif crops-growing farmers was ₹18.99 lakh crore, while during the period 2004-05 to 2013-14, the MSP amount paid to farmers was ₹4.75 lakh crore.

During 2014-15 to 2025-26, procurement of paddy was at 8418 lakh metric tonnes (LMT), while during the period 2004-05 to 2013-14, procurement of paddy was 4590 LMT.

During the period 2014-15 to 2025-26, procurement of 14 kharif crops was 8,746 LMT, while during the period 2004-05 to 2013-14, procurement was 4,679 LMT, the statement added.

(IANS)