India: Cabinet approves minimum support price for copra for 2024 season

Published 2023년 12월 27일

Tridge summary

The Cabinet Committee on Economic Affairs has approved an increase in the minimum support price (MSP) of copra, with the MSP of fair and average quality (FAQ) ball copra increased to Rs 12,000 per quintal and milling copra support price hiked to Rs 11,160 per quintal for the 2024 season. This move aims to ensure better remunerative returns for coconut growers and incentivize farmers to expand copra production to meet growing domestic and international demand for coconut products. The National Agricultural Cooperative Marketing Federation of India (NAFED) and National Cooperative Consumers’ Federation (NCCF) will continue to act as Central Nodal Agencies (CNAs) for procurement of copra and de-husked coconut under Price Support Scheme (PSS).

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Original content

The Cabinet Committee on Economic Affairs has approved an increase of Rs 250-300 per quintal in the minimum support price (MSP) of copra – white part of coconut - at Rs 11,160-12,000 per quintal for the 2024 season.The MSP of fair and average quality (FAQ) ball copra has been increased 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% for milling copra and 63.26 per cent for ball copra, which are well beyond 1.5 times the all India weighted average cost of production, the government said in an official statement. .Milling copra is used to extract oil, while ball or edible copra is consumed as a dry fruit and used for religious purposes. Kerala and Tamil Nadu are major producers of million copra, whereas ball copra is produced predominantly in Karnataka.“A higher MSP will not only ensure better remunerative returns to the coconut growers but also incentivize farmers to ...

Source: Economic times