The Cabinet Committee on Economic Affairs (CCEA) has approved the Minimum Support Price (MSP) of copra for 2021 season. The approval is based on recommendations of the Commission for Agricultural Costs and Prices (CACP).
According to CCEA statement in PIB, the MSP for Fair Average Quality (FAQ) of milling copra has been increased by Rs.375 to Rs10,335 per quintal for 2021 season from Rs 9960 per quintal in 2020. The MSP for ball copra has been increased by Rs300 to Rs10,600per quintal for 2021 season from Rs10300 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.
CCEA said, "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 the all India weighted average cost of production which was announced by the Government in the Budget 2018-19."
"It assures a minimum of 50 per cent as margin of profit as one of the important and progressive steps towards making possible doubling of farmers' incomes by 2022," CCEA added.
Government has procured 5053.34 tonnes of ball copra and 35.58 tonnes of milling copra benefiting 4896 copra farmers in 2020 season.
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