The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved an increase in the minimum support price (MSP) of milling copra by Rs 375 per quintal and ball copra by Rs 300 per quintal to boost farmers' income for the 2021 season. The CCEA meeting was held post farmers' tractor rally that caused violence in various parts of the national capital on Tuesday.
According to the CCEA decision, the MSP for fair average quality (FAQ) of milling copra has been increased to Rs 10,335 per quintal from Rs 9,960 per quintal for 2020 season, while the MSP for ball copra has been increased to Rs 10,600 per quintal from Rs 10,300 per quintal last year.
"MSP of both milling and ball copra have been increased. The cost of production of both is Rs 6,800. We are giving 52% and 55% more than the cost of production.
This is one of the decisions in a series of decisions to benefit farmers. The increase in copra MSP for 2021 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, which was announced by the government in the Budget 2018-19.
This is as per Swaminathan recommendations, which were not implemented by Congress,” said Information and Broadcasting Minister Prakash Javadekar after the cabinet meeting during briefing the media.