Cabinet Committee of Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi on Friday approved a hike in Minimum Support Price (MSP) for Copra (dried coconut kernels) by more than Rs 2000 per quintal for 2019 season. The MSP of Milling Copra will now be Rs 9521 per quintal and that of Ball Copra will be Rs 9920 per quintal.
This is expected to ensure appropriate minimum price to farmers and step up investment in Coconut cultivation which will thereby increase its production in the country.
This approval is based on the recommendations of the Commission for Agricultural Costs and Prices (CACP) which is an expert body that takes note of 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 while recommending the MSPs.
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 which undertake price support operations at the MSPs in the Coconut growing states.
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