The government has increased the Minimum Support Price (MSP) for fair average quality of milling copra to 5,550 rupees per quintal for 2015 season.
This is an increase of 300 rupees per quintal over the previous year's MSP for the product.
The decision was taken by the Cabinet Committee on Economic Affairs (CCEA) on Tuesday.
The MSP for Ball Copra for 2015 season has also been hiked by Rs.330 to Rs.5, 830 rupees per quintal.
The move is expected to ensure appropriate minimum prices to farmers and step up investment in coconut cultivation and thereby production and productivity in the country, an official release said.
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