Owing to delay in finalization of minimum support price (MSP) for the wheat crop along with late crushing of sugar cane crop in Uttar Pradesh has reduced the sowing acreage of wheat crop by almost 15% so far in the current rabi season.As per latest data released by Ministry of Agriculture, the total sowing acreage of wheat crop was at 83.78 lakh hectare against 84.99 lakh hectare reported last year in the same period. Sharp decline has been reported in states such as Uttar Pradesh and Madhya Pradesh.
As per market sources, government is planning to announce the minimum support price of wheat at Rs 1080 per quintal for the 2008-09 rabi crop. Last year, government has announced the MSP at the beginning of the rabi sowing period ( mid of October ), which resulted to strong production of wheat.
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