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The Cabinet Committee on Economic Affairs on Tuesday approved a ₹300 increase in minimum support price (MSP) for fair average quality of ‘milling copra’ for the 2015 season to ₹5,550 a quintal.
The MSP of ‘Ball Copra’ for 2015 season will be ₹5,830, up ₹ 330 over last year’s MSP.
“The approved prices are as per the recommendations by the Commission for Agricultural Costs and Prices,” an official release said.
Boosting outputHigher prices are expected to ensure appropriate minimum prices to farmers and step up investment in coconut cultivation, production and productivity.
The National Agricultural Cooperative Marketing Federation of India Limited would continue to be the Central nodal agency to undertake price support operations at the MSP in coconut-growing States.
In addition, the Central Warehousing Cooperation, the National Cooperative Consumer Federation of India Limited and the Small Farmers Agri-Business Consortium are also allowed to participate in procurement operations, it said.
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