The Cabinet Committee on Economic Affairs (CCEA) is likely to approve tomorrow a proposal to increase the minimum support price (MSP) of milling copra for the 2017 season by Rs 550 per quintal to Rs 6,500.
According to sources, the CCEA meeting is scheduled for tomorrow and the agriculture ministry's proposal on copra MSP is on the agenda.
The ministry has proposed an increase in the MSP of milling copra to Rs 6,500 per quintal for this year, up by 9.24 per cent from Rs 5,950 per quintal last year.
It has recommended 8.7 per cent rise in the support price of 'ball copra' to Rs 6,785 per quintal for 2017 as against Rs 6,240 per quintal in 2016.
The copra MSP has been proposed taking into account the recommendations of expert body Commission for Agricultural Costs and Prices (CACP) to ensure appropriate minimum prices to farmers and step up investment in coconut cultivation.
The ministry has suggested that the National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) and the National Cooperative Consumer Federation of India Ltd (NCCF) will continue to act as central nodal agencies to undertake price support operations.
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