FOOD TECHNOLOGY

Detailed explanation-1: -Minimum Support Price (MSP) is a announced by the Government of India at the beginning of the sowing season for certain crops. The MSP is a guarantee price for farmers’ produce. The major objectives are to support the farmers from distress sales and to procure food grains for public distribution.

Detailed explanation-2: -The farmers are paid a pre-announced price for their crops. This price is called Minimum Support Price (MSP). The MSP is declared by the government every year before the sowing season to provide incentives to the farmers for raising the production of these crops. Was this answer helpful?

Detailed explanation-3: -Minimum Support Price (MSP) is the minimum price set by the government for certain agricultural products, at which the products would directly be bought from the farmers if the open market prices are less than the cost incurred.

Detailed explanation-4: -The Government’s price policy for agricultural commodities seeks to ensure remunerative prices to the growers for their produce with a view to encourage higher investment and production and to safeguard the interest of consumers by making available supplies at reasonable prices with low cost of intermediation.

Detailed explanation-5: -Every year, the minimum support price is declared by the government before the sowing season. The MSP acts as an incentive for farmers to grow more crops. The surplus foodgrains are then purchased by the Food Corporation of India and stored in granaries. Q.