Cabinet increases copra MSP for 2022 season, assures 50% profit margin

The MSP for milling copra has been increased to Rs 10,590 per quintal from Rs 10,335 in 2021, and that for ball copra has been raised to Rs 11,000 per quintal from Rs 10,600

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, has given its approval to the minimum support prices (MSPs) for copra for the 2022 season. The MSP for fair average quality of milling copra has been increased to Rs 10,590 per quintal from Rs 10,335 in 2021 and that for ball copra has been increased to Rs 11,000 per quintal from Rs 10,600.

 

The move would ensure a return of 51.85 per cent for milling copra and 57.73 per cent for ball copra over the all-India weighted average cost of production, the Ministry of Agriculture and Farmers Welfare said in a press release on Wednesday. “The increase in MSP for copra for 2022 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 as announced by the Government in the Budget 2018-19,” it said.

 

The decision, based on recommendations of the Commission for Agricultural Costs and Prices (CACP), “assures a minimum of 50 per cent as margin of profit as one of the important and progressive steps towards making possible doubling of farmers' incomes by 2022”.

 

The National Agricultural Cooperative Marketing Federation of India Limited and National Cooperative Consumer Federation of India Limited would continue to act as Central Nodal Agencies to undertake price support operations at the MSP in the coconut-growing states, the release said.