Indian farm incomes plummeted in 2025 Kharif season due to low crop prices, excess rain, and policy shifts.

Rural farm incomes in India dropped sharply during the 2025 Kharif season as crop prices fell well below government support levels, driven by excess monsoon rains, delayed harvests, and oversupply at markets. Prices for key crops like maize, soyabean, black gram, and cotton were significantly below Minimum Support Prices (MSP), with maize down 27% and black gram 19% below MSP by November 2025. Policy changes, including duty-free imports of pulses and oils, and expectations of increased U.S. grain imports, worsened price declines. Paddy yields fell 6–8% due to weather, compounding losses. Overall, Kharif crop realizations contracted by 8–10%, raising concerns about long-term impacts on rural consumption.