Govt mulls Rs 160/qtl hike in cotton MSP for 2017-18

As farmers prepare fields for kharif sowing, the government is considering increasing the minimum support price (MSP) of cotton by Rs 160 per quintal to Rs 4,320 for the 2017-18 crop year beginning July.

It is also planning to promote Bt cotton variety developed by the government research body ICAR and expects increased area coverage and better output on hopes of good southwest monsoon that has already hit Kerala in advance.

For the ongoing 2016-17 crop year, MSP of medium staple cotton has been fixed at Rs 3,860 per quintal and long staple cotton at Rs 4,160.

According to sources, the Agriculture Ministry has proposed increase in cotton MSP by Rs 160 per quintal for the 2017-18 crop year, based on the recommendation of the Commission for Agricultural Costs and Prices (CACP).

(Agencies)

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