India: Cabinet increase MSP of Copra by INR 375 per quintal for 2021 season

Published 2021년 1월 28일

Tridge summary

The Cabinet Committee on Economic Affairs, led by Prime Minister Narendra Modi, has approved the Minimum Support Price (MSP) for copra for the 2021 season. The MSP for Fair Average Quality (FAQ) of milling copra has been raised by INR 375 to INR 10,335 per quintal, and the MSP for ball copra has been increased by INR 300 to INR 10,600 per quintal. This move is in line with the government's principle of setting the MSP no less than 1.5 times the all-India weighted average cost of production, aiming to ensure a minimum 50% profit margin for farmers towards the target of doubling 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 manage price support operations at the announced MSP in coconut-growing states.

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Original content

NEW DELHI, 28 January 2021: 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 by INR 375, to INR 10335 per quintal for 2021 season from INR 9960 per quintal in 2020. The MSP for ball copra has been increased, by INR 300 to INR 10,600 per quintal for 2021 season from INR 10300 per quintal in 2020. 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 ...

Source: Agricultural Times