Cabinet approves up to Rs 1,000 per quintal hike in coconut ball copra MSP
The MSP of copra is expected to ensure appropriate minimum prices to the farmers and step up investment in coconut cultivation.business Updated: Feb 08, 2018 00:00 IST
The government on Wednesday decided to increase the support price of copra by up to Rs 1,000 per quintal for the 2018 season.
A decision in this regard was taken in the Cabinet Committee on Economic Affairs (CCEA) meeting, headed by Prime Minister Narendra Modi.
In an official statement, the government said the minimum support price (MSP) for fair and average quality of ‘milling copra’ has been increased to Rs 7,500 per quintal for the 2018 season from Rs 6,500 per quintal last year.
The MSP for ‘ball copra’ has been increased to Rs 7,750 per quintal for this year from Rs 6,785 per quintal in 2017.
The MSP of copra is expected to ensure appropriate minimum prices to the farmers and step up investment in coconut cultivation and thereby production and productivity in the country.
The approval is based on recommendations of expert body Commission for Agricultural Costs and Prices (CACP).
Cooperatives NAFED and NCCF would continue to act as central nodal agencies to undertake price support operations at the MSP in the coconut growing states, the statement added.