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‘Cabinet approved Minimum Support Price of Copra for 2021 season’

  • Category
    Economy
  • Published
    2nd Feb, 2021

The Cabinet Committee on Economic Affairs has given its approval for the Minimum Support Price (MSP) of copra for 2021 season.

Context

The Cabinet Committee on Economic Affairs has given its approval for the Minimum Support Price (MSP) of copra for 2021 season.

About

  • Key-takeaways
  • The approval is based on recommendations of the Commission for Agricultural Costs and Prices (CACP).
  • The increase in MSP for copra 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.
  • It assures a minimum of 50 percent as margin of profit as one of the important and progressive steps towards making possible doubling of farmers’ incomes by 2022.
  • Nodal Agencies:The National Agricultural Cooperative Marketing Federation of India Limited (NAFED) and National Cooperative Consumer Federation of India Limited (NCCF) will continue to act as Central Nodal Agencies to undertake price support operations at the MSP in the coconut growing States.

Declared MSP for Copra

  • Milling Copra: The MSP for Fair Average Quality (FAQ) of milling copra has been increased,by Rs.375/-, to Rs. 10335/- per quintal for 2021 season from Rs. 9960/- per quintal in 2020.
  • Ball Copra: The MSP for ball copra has been increased, by Rs.300/-, to Rs. 10,600/- per quintal for 2021 season from Rs. 10300/- per quintal in 2020.

The declared 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.

Copra

  • Copra is a term that refers to sun-dried or smoked coconut “meat” or “flesh”, the edible part of a coconut.
  • Copra is mainly used to yield coconut oil, however, the byproducts themselves are used for additional purposes, mostly as food for livestock.
  • World producers: Indonesia, the Philippines, India and Brazil are among the world's top coconut producers.
  • Major producing states (India): Kerala, Karnataka, Tamil Nadu and Andhra Pradesh together account for more than 90% of coconut production in the country. 
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