New Delhi, Dec 27 – The government has announced an increase in the minimum support price (MSP) for copra, providing a boost to coconut growers across the country. According to an official statement, the MSP for milling copra has been raised by Rs 300 per quintal, while ball copra has witnessed an increment of Rs 250 per quintal for the 2024 season. The decision was taken by the Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi.
The new MSP for Fair Average Quality of milling copra has been set at Rs 11,160 per quintal, while for ball copra, it stands at Rs 12,000 per quintal for the upcoming season. This move ensures a margin of 51.84 per cent for milling copra and 63.26 per cent for ball copra, which is well above 1.5 times the all India weighted average cost of production.
Milling copra is primarily used for oil extraction, whereas ball copra is consumed as a dry fruit and is also utilized for religious purposes. Major copra-producing states include Kerala and Tamil Nadu for milling copra, and Karnataka for ball copra.
The increased MSP not only promises better returns for the coconut growers but also aims to incentivize farmers to expand copra production to meet the rising demand for coconut products both domestically and internationally, according to the statement.
In the ongoing 2023 season, the government has already procured over 1.33 lakh metric tonnes of copra, benefiting approximately 90,000 farmers. This translates to a significant rise of 227 per cent compared to the previous season (2022), marking a record-breaking procurement.
The decision to raise the MSP for copra comes as a relief for coconut farmers, who have been grappling with fluctuations in the market. The move is expected to provide stability and boost the livelihoods of thousands of farmers who depend on the coconut industry.
The government’s effort to support coconut growers through increased MSPs will contribute to the overall growth and sustainability of the agricultural sector. It aims to empower farmers to diversify their crops and explore various opportunities that the market has to offer.
With the latest hike in MSP, the government envisions a prosperous future for coconut farming in India, fostering economic development and ensuring the well-being of farmers across the nation.
