New Delhi, Feb 3 : The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, has given its approval for the Minimum Support Prices (MSPs) for Copra for 2016 season.
The decision is based on recommendations of Commission for Agricultural Costs and Prices (CACP). CACP, which is an expert body, takes into account the cost of production, overall demand-supply, domestic and international prices, cost of conversion of copra into coconut oil, the likely effect of the Price Policy on the rest of economy, besides ensuring rational utilization of production resources like land and water, while recommending MSPs.
The Minimum Support Price (MSP) for Fair Average Quality (FAQ) of “Milling Copra” has been increased to Rs.5950/- per quintal for 2016 season from Rs. 5550/- per quintal in 2015. Also, the MSP for FAQ of “Ball Copra” has been increased to Rs.6240/- per quintal for 2016 season from Rs. 5830/- per quintal in 2015.
The MSP of Copra 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.
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 Minimum Support Prices in the Coconut growing states.
