New Delhi [India], January 27 (ANI): The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved the Minimum Support Price (MSP) of copra at 10,335 rupees per quintal which is an increase of 375 rupees over 2020 rates for 2021 season.
Addressing media in Delhi, Union Minister Prakash Javadekar said this will benefit millions of farmers engaged in copra farming and impact the farmers of 12 coastal states.
"The MSP for Fair Average Quality (FAQ) of milling copra has been increased by Rs 375, to Rs 10.335 per quintal for 2021 season from Rs 9,960 per quintal in 2020. The MSP for ball copra has been increased by Rs 300, to Rs 10,600 per quintal for 2021 season from Rs 10300 per quintal in 2020. 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 Minister said.
The approval is based on recommendations of the Commission for Agricultural Costs and Prices (CACP).
According to the farmers-welfare">Ministry of Agriculture and Farmers Welfare, the increase in MSP for copra for 2021 season 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".
It assures a minimum of 50 percent as margin of profit as one of the important and progressive steps towards making possible doubling of farmers' incomes by 2022, it said.
For 2020 season, the government procured 5053.34 tonnes of ball copra and 35.58 tonnes of milling copra benefiting 4,896 copra farmers. (ANI)