Elevating Copra MSP: Boosting Farmers & Markets

• 29 Dec 2023

The Cabinet Committee on Economic Affairs (CCEA) recently announced a significant increase in the Minimum Support Price (MSP) for copra, setting it at ₹11,160 per quintal for milling copra and ₹12,000 per quintal for ball copra for the 2024 season.

• These adjustments aim to ensure substantial margins 51.84% for milling copra and 63.26% for ball copra benefiting major producing states like Kerala, Tamil Nadu, and Karnataka.
• The National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED) and National Cooperative Consumers’ Federation (NCCF) will continue as Central Nodal Agencies (CNAs) for procurement under the Price Support Scheme (PSS), ensuring sustained support for copra and de-husked coconut procurement.
• MSP, set by the government, ensures farmers receive a guaranteed amount for their produce. Commission for Agricultural Costs and Prices (CACP), operating under the Ministry of Agriculture and Farmers Welfare since 1965, recommends MSP based on production costs, market trends, and demand-supply dynamics.

Read more: Minimum Support Price