Indian mustard and chickpea prices significantly exceed minimum support prices

Market prices for mustard and chickpeas in India are significantly above the minimum support prices (MSP) set by the government for the 2027/28 marketing season. Higher global prices for edible oils and pulses are supporting domestic prices ahead of the start of winter crop sowing.

In Bharatpur, one of the major trading centres in Rajasthan, farmers are selling mustard from the previous crop at more than 8,000 rupees per quintal. This is about 21% above the MSP of 6,613 rupees per quintal set for the next marketing season.

Chickpea prices, which account for about half of India’s pulse production, are currently at 7,000–7,200 rupees per quintal, compared with an MSP of 5,958 rupees. The market price is therefore about 17% above the government-set minimum.

Domestic oilseed prices are also being supported by high global prices for imported palm, soybean and sunflower oils. India imports about 58% of the vegetable oils it consumes, increasing the domestic market’s exposure to global price trends.

Meanwhile, the government is considering releasing about 2 mln t of chickpeas from state reserves to bring down current market prices. Mustard and chickpea sowing in India is expected to begin at the end of October.

Tags: India, chickpea, mustard, prices