Representational file picture.
| Photo Credit: Vibhu H.
The Cabinet Committee on Economic Affairs (CCEA), which met right here on Wednesday, has determined to extend the minimal help value (MSP) for copra. The new MSP for milling copra will likely be ₹ 11,160 per quintal — a rise of ₹300 per quintal than the 2023 season. The new MSP for ball copra will likely be ₹12,000 per quintal — a rise of ₹250 per quintal. The charge will likely be efficient from subsequent 12 months.
Briefing reporters after the assembly, Union Minister for Information and Broadcasting Anurag Thakur mentioned that though copra costs have fallen globally, the Narendra Modi authorities had determined to supply an MSP of a minimum of 50% greater than the manufacturing value. “Accordingly, the copra MSP has been increased by ₹250-300 per quintal for 2024 season,” Mr. Thakur mentioned.
According to a authorities launch, the brand new charges will guarantee a margin of 51.84% for milling copra, and 63.26% for ball copra. Milling copra is used to extract oil, whereas ball/edible copra is consumed as a dry fruit and used for spiritual functions. Kerala and Tamil Nadu are main producers of milling copra, whereas ball copra is produced predominantly in Karnataka.
The Centre’s assertion mentioned: “In the last 10 years, the Government has increased MSP for milling copra and ball copra from ₹5,250 per quintal and ₹5,500 per quintal in 2014-15 to ₹11,160 per quintal and ₹12,000 per quintal in 2024-25, registering a growth of 113% and 118%, respectively.”
“A higher MSP will not only ensure better remunerative returns to the coconut growers but also incentivise farmers to expand copra production to meet the growing demand for coconut products both domestically and internationally,” it added.
In 2023, the federal government has to date procured over 1.33 lakh metric tonnes of copra at a value of ₹1,493 crore, benefiting round 90,000 farmers, the discharge added.
“The procurement in the current season 2023 indicates a rise of 227% over the previous season (2022). National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED) and National Cooperative Consumers’ Federation (NCCF) will continue to act as Central Nodal Agencies (CNAs) for procurement of copra and de-husked coconut under Price Support Scheme (PSS),” the discharge mentioned.
