Cabinet will increase MSP of copra to Rs 10,335

The Union Cabinet on Wednesday elevated the Minimum Support Price (MSP) of copra for the 2021 season by Rs 375 to Rs 10,335 per quintal.
The authorities mentioned in an announcement that the MSP for Fair Average Quality (FAQ) of milling copra has been elevated from Rs 9,960 per quintal final 12 months, marking a soar of round 3.8 per cent.
The MSP for ball copra has been elevated by Rs 300 to Rs 10,600 per quintal from Rs 10300 per quintal in 2020, round a 3 per cent improve.
“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 assertion mentioned.
It mentioned, “Approval is based on recommendations of the Commission for Agricultural Costs and Prices (CACP)… (and 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.”
The assertion mentioned that in 2020, the “government procured 5053.34 tonnes of ball copra and 35.58 tonnes of milling copra benefiting 4896 copra farmers”.
Copra is a vital contributor to Kerala’s economic system, and the state is prone to maintain its Assembly elections in May.