Government of India hikes copra MSP by Rs 250-300 per quintal for 2024 season

Published 2023년 12월 27일

Tridge summary

The Modi government has increased the minimum support price (MSP) of copra to Rs 11,160-12,000 per quintal for the 2024 season, providing a margin of 51.84% for milling copra and 63.26% for ball copra. This decision was made in a meeting of the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi. The increase in MSP aims to ensure better returns for coconut growers and to incentivize farmers to expand copra production to meet growing domestic and international demand.

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Original content

Center on Wednesday announced Rs 250-300 per quintal increase in the minimum support price (MSP) of copra at Rs 11,160-12,000 per quintal for the 2024 season. The decision in this regard was taken in the meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi. Copra prices have fallen globally. However, the Modi government has decided to provide MSP at least 50 per cent higher than the production cost. Accordingly, the copra MSP has been increased by Rs 250-300 per quintal for 2024 season, Anurag Thakur, Information and Broadcasting Minister said in a media briefing. Thakur added that MSP of fair and average quality (FAQ) ball copra has been increased by Rs 250 to Rs 12,000 per quintal while milling copra support price has been hiked by Rs 300 to Rs 11,160 per quintal for the next year. This will ensure a margin of 51.84 per cent for milling copra and 63.26 per cent for ball copra, which are well beyond 1.5 times the all India weighted ...

Source: Economic times