The Government on Wednesday decided to increase the minimum support price (MSP) of milling copra by Rs 255 per quintal and ball copra by Rs 400 per quintal for the season 2022.
The decision was taken at a Cabinet Committee on Economic Affairs (CCEA) meeting chaired by the Prime Minister Narendra Modi and isbased on the recommendations of the Commission for Agricultural Costs and Prices (CACP).
“The MSP for Fair Average Quality (FAQ) of milling copra has been increased to Rs10,590/- per quintal for 2022 season from Rs.10,335/- per quintal in 2021 and the MSP for ball copra has been increased to Rs.11,000/- per quintal for 2022 season from Rs.10,600/- per quintal in 2021,” the CCEA said in a statement.
This is to ensure a return of 51.85 per cent for milling copra and 57.73 per cent for ball copra over the all India weighted average cost of production. The increase in MSP for copra for 2022 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.
“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 and National Cooperative Consumer Federation of India Limited will continue to act as Central Nodal Agencies to undertake price support operations at the MSP in the coconut growing States,” it said.