NEW DELHI, October 15 — The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, on Wednesday approved mandatory revisions in the Minimum Support Prices (MSP) for all designated Rabi crops for the Marketing Season 2027-28.
Under the notified procurement schedule, the MSP for wheat was enhanced by ₹150 per quintal to settle at ₹2,425 per quintal. Substantial revisions were also sanctioned for oilseeds and pulses to incentivize crop diversification, with mustard and rapeseed raised by ₹300 to ₹5,950 per quintal, lentils (masur) elevated by ₹275 to ₹6,700 per quintal, and barley adjusted to ₹1,980 per quintal.
The Ministry of Agriculture confirmed that the price recalibration adheres strictly to the benchmark principle of fixing support prices at least 1.5 times the All-India weighted average cost of production (Cost A2+FL), protecting farm profitability and expanding domestic oilseed self-sufficiency.
The institutional framework of the Commission for Agricultural Costs and Prices (CACP, established in 1965), the methodological components of agricultural cost accounting (A2, A2+FL, and C2), the recommendations of the National Commission on Farmers headed by Dr. M.S. Swaminathan, and procurement dynamics under FCI are core pillars in UPSC Civil Services (GS-III: Agriculture & Agricultural Economics) and State PCS examinations.