Cabinet approves Minimum Support Price for Copra for 2024 season

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The Cabinet Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi, has given its approval for the Minimum Support Prices (MSPs) for copra for 2024 season. In order to provide remunerative prices to the cultivators, government had announced in the Union Budget of 2018-19, that MSPs of all the mandated crops will be fixed at a level of at least 1.5 times of all India weighted cost of production. The MSP for Fair Average Quality of milling copra has been fixed at Rs.11,160/- per quintal and for ball copra at Rs.12,000/- per quintal for 2024 season.

This will ensure a margin of 51.84 percent for milling copra and 63.26 percent for ball copra, which are well beyond 1.5 times the all India weighted average cost of production. Milling copra is used to extract oil, while ball/edible copra is consumed as a dry fruit and used for religious purposes. Kerala and Tamil Nadu are major producers of million copra, whereas ball copra is produced predominantly in Karnataka.