Updated: January 28, 2021 9:01:11 am
The Union Cabinet on Wednesday increased the Minimum Support Price (MSP) of copra for the 2021 season by Rs 375 to Rs 10,335 per quintal.
The government said in a statement that the MSP for Fair Average Quality (FAQ) of milling copra has been increased from Rs 9,960 per quintal last year, marking a jump of around 3.8 per cent.
The MSP for ball copra has been increased by Rs 300 to Rs 10,600 per quintal from Rs 10300 per quintal in 2020, around a 3 per cent increase.
“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,” the statement said.
It said, “Approval is based on recommendations of the Commission for Agricultural Costs and Prices (CACP)… (and 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.”
The statement said that in 2020, the “government procured 5053.34 tonnes of ball copra and 35.58 tonnes of milling copra benefiting 4896 copra farmers”.
Copra is an important contributor to Kerala’s economy, and the state is likely to hold its Assembly elections in May.
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