: Govt approves hike in Copra (Coconut kernel) MSP #FinanceIndia #StockMarketNEWS Govt approves hike in Copra (Coconut kernel) MSP New Delhi, Dec 23 (KNN) The Union Cabinet Committee on Economic

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Govt approves hike in Copra (Coconut kernel) MSP #FinanceIndia #StockMarketNEWS
Govt approves hike in Copra (Coconut kernel) MSP New Delhi, Dec 23 (KNN) The Union Cabinet Committee on Economic Affairs approved the Minimum Support Prices (MSPs) for copra for 2022 season on Wednesday.

The MSP for Fair Average Quality (FAQ) of milling copra has been increased to Rs10,590/- per quintal for 2022 season from Rs.10,335/- per quintal in 2021 and the MSP for ball copra has been increased to Rs.11,000/- per quintal for 2022 season from Rs.10,600/- per quintal in 2021, according to an official statement.

This is to ensure a return of 51.85 percent for milling copra and 57.73 percent for ball copra over the all India weighted average cost of production. The increase in MSP for copra for 2022 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 as announced by the Government in the Budget 2018-19.

The decision is based on recommendations of the Commission for Agricultural Costs and Prices (CACP).

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 and National Cooperative Consumer Federation of India Limited will continue to act as Central Nodal Agencies to undertake price support operations at the MSP in the coconut growing States.

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