Government raises Minimum Support Price for copra

New Delhi, Feb 3: The government on Wednesday approved a hike in the minimum support price (MSP) of milling copra for the 2016 season by Rs.400 per quintal to boost coconut cultivation.

The Cabinet Committee on Economic Affairs (CCEA), at as meeting here chaired by Prime Minister Narendra Modi, also approved an increase of Rs.410 in MSP of "ball copra" to Rs.6,240 per quintal.

The MSP for Fair Average Quality (FAQ) of "Milling Copra" has been increased by Rs.400 per quintal to Rs.5,950 for the 2016 season from Rs.5,550 in 2015.

"The MSP of Copra is expected to ensure appropriate minimum price to the farmers and step up investment in coconut cultivation and thereby production and productivity in the country," said an official statement.

Milling copra is used to extract oil while ball copra is consumed as a dry fruit and used for religious purposes.

The National Agricultural Cooperative Marketing Federation and National Cooperative Consumer Federation would continue to act as central nodal agencies to undertake price support operations at the MSP in the Coconut growing states, the statement added.

IANS