CACP recommend minimum support price in 2010 for Pharmaceutical products.
minimum
Minimum support price is the price at which the govt announces to purchase the produce before the harvest. Procurement price is the price at which the govt buys the produre for PDS and for maintaining the buffer stock. Generally Minimum support price is less than procurement price..
The minimum price at which the Govt buys the agricultural produce (wheat, Rice etc) from the farmers is called MSP.
no because msp is the minimum price which are declared by govt before onset of season at which govt is willing to buy the produce from farmers and procurement price are those at which the govt actually buy the produce(declared before harvest of crop)
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India implements various mechanisms to stabilizes the prices of agricultural commodities. MSP is the most important among them. MSP becomes the floor price and the farmers are assured of getting that price.
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