The MSP Scheme includes 14 Minor Forest Products

02 February 2021 Current Affairs:

The Government decided to add 14 new Minor Forest Products under the mechanism for the marketing of Minor Forest Products by the Minimum Support Price scheme.

Highlights:
♦ This new mechanism will help provide remuneration and fair prices to tribal gatherers of forest products.
♦ The items included in the scheme include-Tasar Cocoons, bamboo shoots, dried elephant apples, wild dried mushrooms and malkangani seeds.
Minimum Support Price (MSP): This is the price of agricultural products purchased directly from farmers as set by the Indian government. MSP is not enforceable by law.
♦ If the open market price is lower than the cost incurred, the decision is made to use the MSP ratio to keep the farmers’ income to a minimum.
♦ Set prices for 23 commodities twice a year.
♦ Based on the recommendations of the Commission for Agricultural Costs and Prices (CACP) since 2009.
Minor Forest Produce (MFP):
It includes all non-timber forest products of plant origin. It also includes bamboo, fodder, leaves, cane, wax dyes, gums, resins, and various forms of food such as nuts, honey, wild fruits, lac, and tusser. MFP provides living and cash income for people living in or near the forest.

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