Saturday, May 5, 2018

Agricultural Price Policy


Write an Essay on Agricultural Price Policy.

      To smooth seasonal and cyclical fluctuations of prices of agricultural commodities.
      To remove price difference between two regions.
      To make available food to consumers in the time of shortage.
      To increase the production and exports of agricultural product.
      To provide raw material to the industries at reasonable price.
      To meet the domestic consumption requirement.
      To provide price stability in the agricultural product.
      To ensure reasonable relation between the prices of food grains and non food grains and manufacturing commodities
The Commission of Agricultural Cost and Prices while recommending MSP takes the following factors into account:
Cost of Production
Change in Input prices
Change in Market prices
Inter-crop market price parity
Demand and supply situation
Effect on industrial cost structure
Effect on general price level
Cost of living
International market price situation
Parity between prices paid and prices received
Disadvantages of the MSP:

Ø  Limited coverage
Ø  To increase the income of the farmer poor of the country have to pay more. This practice will create the problem of  allocate inefficiency in the country.
Ø  Subsidizing farmers through higher product prices is an inefficient method because it penalizes the consumer with higher prices. Also it means the large farmers will benefit the most.
Ø  Farmers use chemical fertilisers to produce more and earn more and more.
The policy is not in the favour of poor farmers

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