Market Intervention Price Scheme

GS-II: Market Intervention Price Scheme

News

Kashmir’s famed apple is battling to get exported outside the State this year as militants are campaigning against the fruit’s trade.
The government is planning to procure almost 12 lakh metric tonnes of apples this season, under the MISP, with the help of the National Agriculture Cooperative Marketing Federation of India (NAFED).

About the Market Intervention Price Scheme:

MIP is a price support mechanism implemented at the request of State Governments for the procurement of perishable and horticultural commodities in the event of a fall in market prices.
The Scheme is implemented when there is at least 10% increase in production or 10% decrease in the ruling rates over the previous normal year.
MIP works in a similar fashion to the Minimum Support Price-based procurement mechanism for food grains but is an Adhoc mechanism.
Its objective is to protect the growers of these horticultural/agricultural commodities from making distress sales in the event of bumper crops during the peak arrival period when prices fall to a very low level.
Thus it provides remunerative prices to the farmers in case of glut in production and fall in prices.

Implementation of MIS:

The Department of Agriculture & Cooperation is implementing the scheme.
Under MIP, funds are not allocated to the States.
Instead, the central share of losses as per the guidelines of MIP is released to the State Governments/UTs, for which MIP has been approved, based on specific proposals received from them.

Procurement:

Under the Scheme, a pre-determined quantity at a fixed Market Intervention Price (MIP) is procured by NAFED as the Central agency and the agencies designated by the state government for a fixed period or till the prices are stabilized above the MIP whichever is earlier.
The area of operation is restricted to the concerned state only.
The MIS has been implemented in case of commodities like apples, kinnoo/malta, garlic, oranges, galangal, grapes, mushrooms, clove, black pepper, pineapple, ginger, red chillies, coriander seed etc.

Source: THE HINDU

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