Procurement PriceIt is the price at which govt purchases the crop after harvesting, the main difference between Procurement Price and MSP is that MSP is declared before sowing while PP is declared after harvesting.Since 1968-69 there is no practice of declaring separate Procurement Price and MSP is usually considered as the Procurement Price.The procurement agencies step in to procure the crop and support the prices when the market price falls below the MSP and the procured farm products are kept in government warehouses and distributed through the PDS and various food security programmes; FCI (Food Corporation of India), the nodal central agency of Government of India, along with other State Agencies undertakes procurement of wheat and paddy.Hence, the price at which the Government purchases food grains for maintaining public distribution is known as Procurement Price.Minimum price is given in 3rd option can be answered but the government does not declare MSP of each crop, but the government can procure any crop if required. For example, if the prices of onions are spiking then the government can directly purchase it from farmers and increase the supply in the market. Such a crop will have procurement price but does not have an MSP. Hence, the best option is Procurement Price 1. Minimum Support Price (MSP) is a form of market intervention by the Government of India to insure agricultural producers against any sharp fall in farm prices. The minimum support prices are announced by the Government of India at the beginning of the sowing season for certain crops on the basis of the recommendations of the Commission for Agricultural Costs and Prices (CACP).MSP is price fixed by the Government of India to protect the producer - farmers - against excessive fall in price during bumper production years. The minimum support prices are a guaranteed price for their produce from the Government. 2. Ceiling Price: Price ceiling is a situation when the price charged is more than or less than the equilibrium price determined by market forces of demand and supply. It has been found that higher price ceilings are ineffective. The price ceiling has been found to be of great importance in the house rental market.3. Issue Price: In stock exchange the price at which a new issue of shares is offered to the public.