Cabinet approves MSP of copra for 2021 season

Cabinet approves MSP of copra for 2021 season
NAFED and NCCF will continue to act as Central nodal agencies to undertake price support operations of copra at MSP in the coconut growing states

The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has given its approval for the Minimum Support Price (MSP) of copra for 2021 season.

The MSP for Fair Average Quality (FAQ) of milling copra has been increased to Rs. 10,335 per quintal for 2021 season from Rs. 9,960 per quintal in 2020. The MSP for ball copra has been increased to Rs. 10,600 per quintal for 2021 season from Rs. 10,300 per quintal in 2020. According to the Government o India, the declared MSP ensures a return of 51.87 percent for milling copra and 55.76 percent for ball copra over the all-India weighted average cost of production.

The approval is based on the 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, a CCEA statement has claimed.

It assures a minimum of 50 percent as margin of profit as one of the important and progressive steps towards making possible doubling of farmers’ incomes by 2022, the statement has further said.

The National Agricultural Cooperative Marketing Federation of India (NAFED) and National Cooperative Consumer Federation of India (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, the Government has procured 5,053.34 tonnes of ball copra and 35.58 tonnes of milling copra from 4,896 copra farmers.

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