MSP for milling copra hiked by ₹375/quintal

Copra farmers in 12 coastal States are expected to get higher price this year.

The Cabinet Committee on Economic Affairs (CCEA), under the chairmanship of Prime Minister Narendra Modi, has approved increasing Minimum Support Price (MSP) to up to ₹375 per quintal this season. This is more than 50 per cent over cost price.

The MSP for Fair Average Quality (FAQ) of milling copra has been increased by ₹375 to ₹10,335 per quintal as compared to last year’s MSP at ₹9,960 per quintal. The MSP for ball copra has been increased by ₹300 to ₹10,600 per quintal from ₹10,300 per quintal in 2020. The declared MSP ensures a return of 51.87 per cent for milling copra and 55.76 per cent for ball copra over the all-India weighted average cost of production.

The approval is based on recommendations of the Commission for Agricultural Costs and Prices (CACP).

All-India average price

The increase in MSP for copra for 2021 season is in line with the principle of fixing the MSP at a level of at least 1.5 times of the all-India weighted average cost of production which was announced in the Budget 2018-19. It assures a minimum of 50 per cent as margin as one of the progressive steps towards making possible doubling of farmers’ incomes by 2022.

The National Agricultural Cooperative Marketing Federation of India Limited (Nafed) and National Cooperative Consumer Federation of India Limited (NCCF) will continue to act as Central Nodal Agencies to undertake price support operations at the MSP in the coconut-growing States.

For 2020 season, the government has procured 5053.34 tonnes of ball copra and 35.58 tonnes of milling copra benefitting 4,896 copra farmers.