MSP is the minimum price guaranteed by the Government of India for agricultural produce. If market prices fall below MSP, the government procures crops from farmers at MSP rates through designated agencies like FCI (Food Corporation of India) and state marketing boards. The 2026 MSP rates were announced on 2026-05-15.

MSP rates are announced by the Government of India, Ministry of Agriculture & Farmers Welfare, based on recommendations from the Commission for Agricultural Costs and Prices (CACP). The announcement typically happens before the sowing season.

MSP rates are typically revised annually, announced before the Kharif (June) and Rabi (October) sowing seasons. The government reviews and adjusts rates based on input costs, market conditions, and farmer welfare considerations.

Yes, MSP rates are uniform across all states in India. However, procurement operations and timing may vary by state based on harvest schedules and local agricultural marketing board procedures.

If market prices are higher than MSP, farmers are free to sell in the open market for better returns. MSP acts as a safety net - it guarantees a minimum price but farmers can sell at higher market rates when available.

Yes, MSP applies to organic crops as well, provided they meet the same quality standards as conventional crops. However, organic crops often command premium prices in specialized markets beyond the standard MSP.