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MSP of copra raised by up to 55% over production cost, move to benefit farmers of 12 coastal states, says government

The MSP for milling copra was increased by 52 percent over and above the cost of production to Rs 10,335 from Rs 9,960. The cost of production is 6,800.

January 27, 2021 / 04:45 PM IST

The minimum support price (MSP) for two variants of copra or dried coconut was increased by the central government on January 27. The MSP was revised by 52 to 55 percent over production cost. The move will benefit farmers in 12 coastal states, the government said.

The MSP for milling copra was increased by 52 percent over and above the cost of production to Rs 10,335 from Rs 9,960. The cost of production is Rs 6,800.

For ball copra, the MSP has been increased by 55 percent over and above the cost of production by Rs 300. MSP for ball copra is now Rs 10,600, whereas, the cost of production is same as milling copra.

Also read: India's new agri laws have potential to raise farm income: IMF's Gita Gopinath

The hike in MSP comes amidst the ongoing farmers protest against the new agriculture reform laws. Over 30 major agrarian unions are protesting on the outskirts of Delhi over the last two months, seeking repeal of the laws that were passed by the Parliament in September.

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The laws, which allow the farmers to bypass the mandis and directly sell their produce to private players, are being seen as a ploy to dilute the MSP regie by dismantling the agriculture produce marketing committees (APMCs).

The Centre, in the past week, offered to keep the laws on hold for 18 months to allow the Supreme Court-appointed panel to submit its report. The Samyukta Kisan Morcha, the amalgam of unions leading the stir, rejected the offer and reiterated its demand for complete rollback of the new laws.
Moneycontrol News
first published: Jan 27, 2021 02:31 pm

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