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Cabinet approved Minimum Support Price of Copra for 2021 season

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Cabinet approves MSP of copra at Rs 10,335 per quintal for 2021 seasonBased on the recommendations of the Commission for Agricultural Costs and Prices (CACP), Cabinet Committee on Economic Affairs (CCEA) has given its approval for the Minimum Support Price (MSP) of copra for 2021 season.

  • In this regard, Minimum Support Price (MSP) for Fair Average Quality (FAQ) of milling copra is increased by Rs.375 to Rs. 10335/- per quintal for 2021 season from Rs. 9960/- per quintal in 2020.
  • The MSP for ball copra has been increased by Rs.300/-, to Rs. 10,600/- per quintal for 2021 season from Rs. 10300/- per quintal in 2020.

Key Points:

–The increase in MSPs will ensure a return of 51.87% for milling copra and 55.76% for ball copra.

–The move will benefit farmers in 12 coastal states.

–The increase is on 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.

–This increase will assure a minimum of 50 percent as margin of profit in order to double the farmers’ incomes by 2022.

Additional Info:

–The Central Nodal Agencies for price support operations at the MSP in the coconut growing States are National Agricultural Cooperative Marketing Federation of India Limited (NAFED) and National Cooperative Consumer Federation of India Limited (NCCF).

— For 2020 season, Government Procured 5053.34 tonnes of ball copra and 35.58 tonnes of milling copra.

What is Minimum Support Price (MSP)?

The minimum support price is an agricultural product price, set by the Government of India to purchase directly from the farmer. This is not enforceable by law. By definition, this rate is to safeguard the farmer to a minimum profit for the harvest, if the open market has lesser price than the cost incurred.

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About Commission for Agricultural Costs & Prices (CACP)
It works under Ministry of Agriculture & Farmers Welfare.
Chairman – Prof. Vijay Paul Sharma
Established – 1965