Current AffairsIndia

Cabinet approves MSP of Copra for 2021 season

New Delhi: The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, on Wednesday gave its approval for the Minimum Support Price (MSP) of copra for 2021 season.

Addressing mediapersons here, Information and Broadcasting Minister Prakash Javadekar said the MSP for Fair Average Quality (FAQ) of milling copra has been 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. The declared MSP ensures a return of 51.87 per cent for milling copra and 55.76 per cent for ball copra over the all-India weighted average cost of production.

The approval was based on the recommendation of Commission for Agricultural Costs and Prices (CACP).

The increase in MSP for copra for 2021 season was in 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, which was announced by the Government in Budget 2018-19.

It assures a minimum of 50 per cent as margin of profit as one of the important and progressive steps towards making possible doubling of farmers’ incomes by 2022.

The National Agricultural Cooperative Marketing Federation of India Limited (NAFED) and the National Cooperative Consumer Federation of India Limited (NCCF) will continue to act as Central Nodal Agencies, to undertake price support operations at the MSP in coconut-growing states.

For 2020 season, the Government has procured 5053.34 tonnes of ball copra and 35.58 tonnes of milling copra, benefiting 4896 copra farmers.

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