evidence: More than 60% of the kharif crop arrivals in October were trading below the minimum support price (MSP).3 Late and heavy rainfall in the states of Madhya Pradesh, Rajasthan, Gujarat, Uttar Pradesh and Maharashtra damaged standing kharif crops. With high moisture content of kharif crops and little progress in procurement of crops by government, eight of the thirteen kharif crops were trading at price lower than MSP (Chart 5). Excess rainfall is expected to impact kharif crop output and, consequently, farmer income may be only marginally higher than last year. [...] 3 Minimum Support Price (MSP) is a form of market intervention by the Government of India to insure farmers against any sharp fall in agricultural prices.