Centre hikes copra MSP by Rs 1,000

The Centre on Wednesday hiked the minimum support price (MSP) for copra by Rs 1,000 per quintal to Rs 7,500 for the 2018 season.

According to the decision taken by the Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, the MSP for Fair Average Quality (FAQ) of milling copra has been fixed at Rs 7,500 per quintal for 2018 season, up from Rs 6,500 per quintal in 2017.

The MSP for FAQ of ball copra has been increased to Rs 7,750 per quintal for 2018 season, up from Rs 6,785 per quintal in 2017.

Investment boost

The increase in MSP is expected to ensure appropriate minimum prices to the farmers and step up investment in coconut cultivation and thereby, production and productivity in the country, an official statement said here.

The decision also comes ahead of the Assembly elections in Karnataka, which is one of the key coconut growing states.

The government said the National Agricultural Cooperative Marketing Federation of India Limited (NAFED) and National Cooperative Consumer Federation of India Limited (NCCF) would continue to act as central nodal agencies to undertake price support operations at the MSP in the coconut growing states.

The Centre on Wednesday hiked the minimum support price (MSP) for copra by Rs 1,000 per quintal to Rs 7,500 for the 2018 season.

According to the decision taken by the Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, the MSP for Fair Average Quality (FAQ) of ‘milling copra’ has been fixed at Rs 7,500 per quintal for 2018 season, up from Rs 6,500 per quintal in 2017.

The MSP for FAQ of ‘ball copra’ has been increased to Rs 7,750 per quintal for 2018 season, up from Rs 6,785 per quintal in 2017.

Investment boost

The increase in MSP is expected to ensure appropriate minimum prices to the farmers and step up investment in coconut cultivation and thereby, production and productivity in the country, an official statement said here.

The decision also comes ahead of the Assembly elections in Karnataka, which is one of the key coconut growing states.

The government said the National Agricultural Cooperative Marketing Federation of India Limited (NAFED) and National Cooperative Consumer Federation of India Limited (NCCF) would continue to act as central nodal agencies to undertake price support operations at the MSP in the coconut growing states.

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