The Union Cabinet on Wednesday raised the Minimum Support Price (MSP) of copra for the 2021 season by Rs 375 to Rs 10,335 per quintal. They stated that the MSP for Fair Average Quality (FAQ) of milling copra has been increased from Rs 9,960 per quintal last year, marking a leap of around 3.8 percent. The MSP for ball copra has been enhanced by Rs 300 to Rs 10,600 per quintal from Rs 10300 per quintal as in 2020, which marks around a 3 percent increase.
The cabinet assumes that the announced MSP ensures a return of 51.87 percent for milling copra and 55.76 percent for ball copra over the all-India weighted average cost of production. The approval is based on recommendations of the Commission for Agricultural Costs and Prices (CACP)and is in line with the principle of deciding 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.
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