Govt hikes MSP for milling copra by Rs 300 per quintal for 2024 season

Last year, the government increased the minimum support price (MSP) of milling copra by Rs 270 per quintal and ball copra by Rs 750 per quintal

The government has increased the minimum support price (MSP) of milling copra by Rs 300 per quintal and ball copra by Rs 250 per quintal.

The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi has approved Minimum Support Prices (MSPs) for copra for 2024 season, an official statement said.

Last year, the government increased the minimum support price (MSP) of milling copra by Rs 270 per quintal and ball copra by Rs 750 per quintal.

The approval is based on recommendations of the Commission for Agricultural Costs and Prices (CACP) and views of major coconut-growing states.

"The MSP for Fair Average Quality of milling copra has been fixed at Rs 11,160 per quintal and for ball copra at Rs 12,000 per quintal for 2024 season. This is an increase of Rs 300 per quintal for milling copra and Rs 250 per quintal for ball copra over the previous season," the statement said.

With this, the government aims to ensure better remunerative returns for coconut growers of the country, it said.

The announced MSP of copra for the 2024 season is 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 as announced by the government in the Budget 2018-19.

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