The government today decided to increase the minimum support price (MSP) of milling copra by Rs 550 per quintal to Rs 6,500 for the 2017 season to boost coconut cultivation.
A decision in this regard was taken at the meeting of the Cabinet Committee on Economic Affairs (CCEA), headed by Prime Minister Narendra Modi.
The CCEA has approved an increase in the MSP of milling copra by Rs 550 per quintal to Rs 6,500 for this year, from Rs 5,950 last year, an official source said.
The support price of 'ball copra' has been raised by Rs 545 per quintal to Rs 6,785 per quintal for 2017 as against Rs 6,240 in 2016.
The copra MSP has been decided taking into account the recommendations of expert body Commission for Agricultural Costs and Prices (CACP) to ensure appropriate minimum prices to farmers and step up investment in coconut cultivation.
The National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) and the National Cooperative Consumer Federation of India Ltd (NCCF) will continue to act as central nodal agencies to undertake price support operations.
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