Govt hikes MSP of milling copra, ball copra
NEW DELHI [Maha Media]: The government on Wednesday decided to hike in the Minimum Support Price (MSP) for both the milling and ball copra—which are more than 50 percent of their input cost—as per Swaminath formula, said Union Information and Broadcasting Minister Prakash Javadekar.
Briefing media after the meeting of the Cabinet Committee of Economic Affairs (CCEA), which was chaired by Prime Minister Narendra Modi, I&B Minister said, “Approvals for hike in MSPs have been given for two types of copra for 2020 season. The MSP for Fair Average Quality (FAQ) of milling copra has been increased to Rs 10,335 per quintal for 2021 season from Rs 9,960 per quintal in 2020 and the MSP for ball copra has been increased to Rs 10,600 per quintal for 2021 season from Rs 10,300 per quintal in 2020. These increases will accrue benefits of Rs 375 per quintal in the milling copra and Rs 300 in case of the Ball Copra.”
Javadekar said, that today’s decision will ensure a return of 52 percent for milling copra and 55 percent for ball copra over the all India weighted average cost of production, which is the same Rs 6,805 per quintal for both the categories.
The approval is based on recommendations of the Commission for Agricultural Costs and Prices (CACP), he added.
It assures a minimum of 50 percent as margin of profit as one of the important and progressive steps towards making possible doubling of farmers’ incomes by 2022, said the Minister.
Javadekar also said that the MSP becomes a benchmark for the open market and farmers even get higher prices.
“Thus, the entire copra produced in the country (12 coastal states) in a year need not be bought by the government agencies. However, the National Agricultural Cooperative Marketing Federation of India (NAFED) and National Cooperative Consumer Federation of India (NCCF) will continue to act as Central Nodal Agencies to undertake price support operations”, he noted.
India is number one in production and productivity of Copra in the World.