New Delhi, February 8: A hike in the minimum support price (MSP) for copra by Rs 1,000 a quintal in the 2018 season to encourage production and productivity of coconuts in the country have been approved.
A decision in this regard was taken in the Cabinet Committee on Economic Affairs (CCEA) meeting, headed by PM Narendra Modi. The MSP of fair average quality of ball copra would go up to ₹7,750 a quintal against ₹6,785 a quintal last year while milling copra would have an MSP of ₹7500, in place of ₹6,500 a quintal in 2017, official sources said.
The MSP for ‘ball copra’ has been increased to Rs 7,750 per quintal for this year from Rs 6,785 per quintal in 2017.
The approval is based on recommendations of Commission for Agricultural Costs and Prices (CACP). CACP, which is an expert body, takes into account the cost of production, trends in the domestic and international prices of edible oils, overall demand and supply of copra and coconut oil, cost of processing of copra into coconut oil and the likely impact of the recommended MSPs on consumers, while recommending the MSPs.