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The Government on Wednesday approved an increase of Rs 65 per quintal in the minimum support price (MSP) for wheat at Rs 1,350 a quintal for the 2012-13 season.
Last year, the Government had fixed the wheat MSP at Rs 1,285 a quintal.
The Cabinet Committee on Economic Affairs approved the MSP hike of Rs 65 a quintal on Wednesday. The CCEA also approved exports of an additional 2.5 mt of wheat from the Government stocks, said Finance Minister, P. Chidambaram.
The Government is having a wheat stock of 37.6 mt as of December 1, 2012, almost thrice the buffer stock requirement.
Chidambaram said the Government had earlier approved export of 2 mt of wheat, of which 1.7 mt has been contracted so far by the state agencies.
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