New Delhi: The Union government has increased the Minimum Support Price (MSP) for Copra for 2024 season. The decision was taken by the Cabinet Committee on Economic Affairs (CCEA).
The MSP of fair and average quality (FAQ) ball copra has been increased by Rs 250 to Rs 12,000 per quintal, while milling copra support price has been hiked by Rs 300 to Rs 11,160 per quintal for the next year. This will ensure a margin of 51.84% for milling copra and 63.26%t for ball copra, which are well beyond 1.5 times the all India weighted average cost of production.
Milling copra is used to extract oil, while ball or edible copra is consumed as a dry fruit and used for religious purposes. Kerala and Tamil Nadu are major producers of milling copra, whereas ball copra is produced predominantly in Karnataka.
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In the current season 2023, the Government has procured a record amount of more than 1.33 lakh metric tonnes of copra, at the cost of 1,493 crore rupees, benefiting around 90 thousand farmers. The procurement in the current season 2023 indicates a rise of 227% over the previous season.
‘This significant step reaffirms our commitment to empowering India’s coconut growers and strengthening our agricultural sector,’ said Prime Minister Narendra Modi in a post on X.
In the last 10 years, the government has increased MSP for milling copra and ball copra from Rs 5,250 per quintal and Rs 5,500 per quintal, respectively in 2014-15 to Rs 11,160 per quintal and Rs 12,000 per quintal each in 2024-25 season.
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