Average mandi prices of major food crops ruling below MSP: RBI article

Average mandi prices of major food crops, barring wheat, are ruling below the minimum support price due to bumper harvest of kharif and rabi crops, according to the latest Reserve Bank bulletin.

Also, high frequency food price data for May so far (up to May 19) showed a broad-based moderation in prices of both cereals and pulses.

Central government fixes the minimum support price (MSP) for 23 crops — 14 kharif, seven rabi and two commercial crops. However, it procurers few commodities, especially wheat and rice for the central pool for the purpose of food security. PTI