Cabinet Approves MSP Hike for Copra to Rs 12,100 per Quintal

Cabinet hikes MSP for Copra to Rs 12,100 per quintal

20 Dec, 2024 8:55 PM

New Delhi, Dec 20 (IANS) The Cabinet Committee on Economic Affairs on Friday hiked the Minimum Support Price (MSP) for fair average quality of milling copra to Rs 11,582 per quintal and for ball copra to Rs 12,100 per quintal for the 2025 marketing season, according to an official statement.

The MSP has been increased in accordance with the government’s decision that mandates the MSP for crops will be fixed at levels of at least 1.5 times the all-India weighted average cost of production, the statement said.

"The Government has increased MSP for milling copra and ball copra from Rs 5,250 per quintal and Rs 5,500 per quintal for the marketing season 2014 to Rs 11,582 per quintal and Rs 12,100 per quintal for the marketing season 2025, registering a growth of 121 per cent and 120 per cent, respectively," the statement said.

A higher MSP will not only ensure better remunerative returns to the coconut growers but also incentivise farmers to expand copra production to meet the growing demand for coconut products both domestically and internationally, it added.

The National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) and the National Cooperative Consumers’ Federation (NCCF) will continue to act as Central Nodal Agencies (CNAs) for procurement of copra and de-husked coconut under the Price Support Scheme (PSS), the statement added.

The main objective of the Centre’s procurement is to assure farmers get remunerative prices and distribution to consumers, particularly the vulnerable sections of society takes place at affordable prices.

The Centre maintains a buffer stock for food security and price stability. Similarly, the Central government extends price support to paddy, coarse grains and wheat through the FCI and state agencies.

All the food grains (wheat and paddy) conforming to the prescribed specifications offered for sale at specified centres are bought by the public procurement agencies at the Minimum Support Price (MSP), inclusive of the bonus announced, if any. The farmers have the option to sell their produce to the FCI/state agencies at MSP or in the open market as is advantageous to them.

Courtesy Media Group: IANS

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