FOOD TECHNOLOGY

Detailed explanation-1: -Minimum Support Price (MSP) is announced by the Government of India at the beginning of the sowing season for certain crops. The MSP is a guarantee price for farmers.

Detailed explanation-2: -Definition: A minimum guarantee is an initial sum that is paid to the producer by the distributor irrespective of how the film performs. Typically, large producers command a high sum due to their brand that pulls in crowds into theatres.

Detailed explanation-3: -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.

Detailed explanation-4: -Price Support Scheme (PSS) The Department of Agriculture & Cooperation implements the PSS for procurement of oil seeds, pulses and cotton, through NAFED which is the Central nodal agency, at the MSP declared by the government.

Detailed explanation-5: -Minimum Support Price (MSP) is price fixed by Government of India to protect the producer-farmers-against excessive fall in price during bumper production years. The minimum support prices are a guarantee price for their produce from the Government.