Govt hikes copra MSP

New Delhi: The government has increased the minimum support price (MSP) of milling copra by Rs 270 per quintal and ball copra by Rs 750 per quintal.

The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi has approved Minimum Support Prices (MSPs) for copra for 2023 season, an official statement said.

The approval is based on recommendations of the Commission for Agricultural Costs and Prices (CACP) and views of major coconut growing states.

"The MSP for Fair Average Quality of milling copra has been fixed at Rs 10,860 per quintal and for ball copra at Rs 11,750 per quintal for 2023 season. This is an increase of Rs 270 per quintal for milling copra and Rs 750 per quintal for ball copra over the previous season," the statement said.

This would ensure a margin of 51.82 per cent for milling copra and 64.26 per cent for ball copra over the all India weighted average cost of production.

The announced MSP of copra for 2023 season is in line with the principle of fixing the MSP at a level of at least 1.5 times all-India weighted average cost of production as announced by the government in the Budget 2018-19.

National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) and National Cooperative Consumers' Federation (NCCF) will continue to act as Central Nodal Agencies (CNAs) for procurement of copra and de-husked coconut under Price Support Scheme (PSS).