New Delhi, December 28: The Cabinet Committee on Economic Affairs, CCEA has approved a hike in Minimum Support Price (MSP) for Copra by more than two thousand rupees per quintal for 2019 season.
Union Minister Ravi Shankar Prasad said, the MSP of Copra has been increased to 9521 rupees per quintal from 7511 rupees per quintal in 2018. The MSP of Ball Copra will now be 9920 rupees per quintal which was earlier 7750 rupees.
In February this year, a decision in this regard was taken in the Cabinet Committee on Economic Affairs (CCEA) meeting, headed by PM Narendra Modi. The MSP of fair average quality of ball copra would go up to ₹7,750 a quintal against ₹6,785 a quintal last year while milling copra would have an MSP of ₹7500, in place of ₹6,500 a quintal in 2017, official sources said.
The approval was based on recommendations of Commission for Agricultural Costs and Prices (CACP). CACP, which is an expert body, takes into account the cost of production, trends in the domestic and international prices of edible oils, overall demand and supply of copra and coconut oil, cost of processing of copra into coconut oil and the likely impact of the recommended MSPs on consumers, while recommending the MSPs.