Rs 400 hike in copra MSP

Rs 400 hike in copra MSP
The Centre on Wednesday increased the minimum support price for copra by Rs 400 for the 2016 season.

The MSP for milling copra, used to produce oil, has been hiked from Rs 5,550 per quintal to Rs 5,950, an official statement said. The MSP for ball copra has been increased from Rs 5,830 per quintal to Rs 6,240.

The decisions were taken at a meeting of Cabinet Committee for Economic Affairs chaired by Prime Minister Narendra Modi. MSP of copra is expected to ensure appropriate minimum prices to the farmers and step up investment in coconut cultivation and thereby production and productivity.

Tamil Nadu produces the highest number of coconuts in the country, around 50,747 lakh nuts, followed by Kerala, Karnataka, Andhra Pradesh and West Bengal. Milling copra is used to extract oil, while edible grade of copra (ball copra) is consumed as a dry fruit and used for religious purposes. The National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) and National Cooperative Consumer Federation of India Ltd (NCCF) would continue to act as central nodal agencies to undertake price support operations at the MSP in the coconut growing states.

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