The MSP of toria stood at Rs 3,290 per quintal in the 2015-16 crop year.
"The Minimum Support Price (MSP) of Toria of Fair Average Quality (FAQ) for 2016-17 season to be marketed in 2017-18 has been fixed at Rs 3,560 per quintal," the Agriculture Ministry said in a statement.
As per the decision of the Cabinet Committee on Economic Affairs (CCEA) regarding the Price Policy for Rabi Crops of 2016-17 season to be marketed in 2017-18, the MSP of Toria has been fixed on the basis of the normal market price differentials between toria and rapeseed/mustard.
The decision was taken by Agriculture Ministry on December 5, 2016.
FCI would continue to be the designated Central Nodal Agency for procurement of pulses and oilseeds.
To supplement the efforts of FCI, the National Agriculture Cooperative Marketing Federation of India Ltd (NAFED), National Cooperative Consumer Federation (NCCF), Central Warehousing Cooperation (CWC) and Small Farmers Agri-Business Consortium (SFAC) might also undertake procurement of oilseeds and pulses as per their capacity.
The losses, if any, incurred by the nodal agencies in such operations may be fully reimbursed by the government.