Significant Hikes in MSP for oilseed Kharif Crops 2024-25: Ensuring Profitable Returns for Farmers

Groundnut (Peanut)

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The Indian government has announced the Minimum Support Prices (MSP) for Kharif crops for the 2024-25 season, reflecting notable increases compared to 2023-24. The MSP for groundnut has risen from ₹6377 to ₹6783 per quintal, soybean (yellow) from ₹4600 to ₹4892, and sunflower seed from ₹6760 to ₹7280. Sesamum has increased from ₹8635 to ₹9267, and nigerseed from ₹7734 to ₹8717 per quintal. These hikes aim to ensure farmers achieve a minimum 50% return over production costs, promoting agricultural stability and profitability.