Cabinet approves MSP of copra at Rs 10,335 per quintal for 2021 season

Cabinet approves MSP of copra at Rs 10,335 per quintal for 2021 season
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Cabinet approves MSP of copra at Rs 10,335 per quintal for 2021 season

Highlights

Cabinet Committee on Economic Affairs (CCEA) has approved Minimum Support Price (MSP) of copra at Rs 10,335 per quintal for the 2021 season

Cabinet Committee on Economic Affairs (CCEA) has approved Minimum Support Price (MSP) of copra at Rs 10,335 per quintal for the 2021 season, which is an increase of Rs 375 over 2020 rates. The MSP for Fair Average Quality (FAQ) of milling copra stood at Rs 9,960 per quintal in 2020.

The decision was taken at a CCEA meeting that was chaired by Prime Minister Narendra Modi.

The MSP for ball copra has been increased, by Rs300, to Rs 10,600 per quintal for 2021 season from Rs 10300 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.

Briefing the media in Delhi, Union Minister Prakash Javadekar said this will benefit millions of farmers engaged in copra farming and impact the farmers of 12 coastal states. He said this is one of the many decisions taken by the Centre for the benefit of the farmers.

The approval is based on recommendations of the Commission for Agricultural Costs and Prices (CACP). 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 the margin of profit as one of the important and 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, Government has procured 5053.34 tonnes of ball copra and 35.58 tonnes of milling copra benefiting 4896 copra farmers.

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