The total financial implication of the copra MSP hike would be ₹855 crore.
| Photo Credit: The Hindu
The Union government on Friday (December 20, 2024) has increased the Minimum Support Price (MSP) for copra for the 2025 season. Approved by Cabinet Committee on Economic Affairs (CCEA), the MSP for milling copra of fair average quality will be ₹11,582 per quintal, an increase by ₹422 from ₹11,160 per quintal in 2024. It will be ₹12,100 per quintal for ball copra, ₹100 up from ₹12,000 per quintal in 2024.
The Union government said, from 2014 to 2025, it had increased the MSP by ₹5,250 per quintal for milling copra and ₹5,500 per quintal for ball copra, registering a growth of 121% and 120%, 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,” the CCEA said in a release.
The Committee added that the 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).
Cooperative agencies Nafed and NCCF will be the central nodal agencies for the procurement of copra, he added.
Published – December 20, 2024 08:33 pm IST
