The Cabinet Committee on Economic Affairs has approved an increase of over Rs 2000 in Minimum Support Price (MSP) for copra. Chaired by Prime Minister Narendra Modi, the CCEA has given its consent to increase the MSP for milling copra to Rs 9,521 per quintal for 2019 season from Rs 7,511 per quintal in 2018, whereas that of Ball Copra has been hiked to Rs 9,920 per quintal from Rs 7,750 per quintal in 2018. Copra is the dried kernel of a coconut.

The MSP hike has been recommended by the Commission for Agricultural Costs and Prices (CACP) based on the cost of production, trends in the domestic and international prices of edible oils, overall demand and supply of copra and coconut oil, cost of processing of copra into coconut oil and the likely impact of the recommended MSPs on consumers, the CCEA said in a statement.

The hike in MSP of copra is expected to ensure appropriate minimum prices to the farmers and step up investment in coconut cultivation, production and productivity in the country, the CCEA said in a statement.

The National Agricultural Cooperative Marketing Federation of India Limited (NAFED) and National Cooperative Consumer Federation of India Limited (NCCF) would continue to act as Central Nodal Agencies to undertake price support operations at the MPS in the coconut growing states.

Edited by Vivek Punj