: MSP for Copra increased by Rs. 375 #FinanceIndia #StockMarketNEWS MSP for Copra increased by Rs. 375 New Delhi, Jan 27 (KNN) The Cabinet Committee on Economic Affairs has approved Minimum Support

@StockMarketNEWS Thu 28 Jan, 2021

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MSP for Copra increased by Rs. 375 #FinanceIndia #StockMarketNEWS
MSP for Copra increased by Rs. 375 New Delhi, Jan 27 (KNN) The Cabinet Committee on Economic Affairs has approved Minimum Support Price (MSP) of copra for 2021 season.

“The MSP for Fair Average Quality (FAQ) of milling copra has been increased by Rs.375/-, to Rs. 10335/- per quintal for 2021 season from Rs. 9960/- per quintal in 2020. The MSP for ball copra has been increased by Rs. 300/-, to Rs. 10,600/- per quintal for 2021 season from Rs. 10300/-per quintal in 2020”, according to an official statement.

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 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 percent as 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.