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Informist, Friday, Dec. 20, 2024

 

--Cabinet hikes ball copra MSP by INR 100 from INR 12,000/100 kg

--Cabinet hikes milling copra MSP to INR 11,582/100 kg

--Cabinet approves copra price policy for 2025 season

--Govt: Financial implication of INR 8.55 bln from copra MSP hike

 

MUMBAI – The Cabinet Committee on Economic Affairs Friday approved increasing the minimum support prices of ball copra and milling copra for the 2025 season, the government said in a release. The minimum support price for "fair and average quality" of milling copra has been hiked by INR 422 rupees per 100 kg to INR 11,582 rupees, while that of ball copra has been increased by INR 100 rupees per 100 kg to INR 12,100 rupees. The total financial implication of the hike in the minimum support price for copra will be INR 8.55 bln.

 

The minimum support price for milling copra has risen 121% from 5,250 rupees per 100 kg in 2014-15, while that of ball copra has risen 120% from 5,500 rupees per 100 kg. In the Union Budget of 2018-19 (Apr-Mar), the government announced that the minimum support price of all the mandated crops will be fixed at levels of at least 1.5 times of all India weighted average cost of production to provide remunerative prices to the cultivators, the release said.

 

Earlier in the day, Informist had reported quoting sources that the government may increase the minimum support price for milling and ball copra. Kerala and Tamil Nadu are major producers of milling copra, while ball copra is primarily produced in Karnataka.

 

"A higher MSP will not only ensure better remunerative returns for the coconut growers but also incentivise farmers to expand copra production to meet the growing demand for coconut products both domestically and internationally," it said.

 

National Agricultural Cooperative Marketing Federation of India Ltd. and National Cooperative Consumers' Federation will continue to act as central nodal agencies for procurement of copra and de-husked coconut under price support scheme, it said. End

 

Reported by Sandeep Sinha

Edited by Akul Nishant Akhoury

 

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