The Cabinet Committee on Economic Affairs(CCEA) chaired by Prime Minister Shri Narendra Modi has approved Minimum Support Prices (MSPs) for copra for 2023 season. The approval is based on recommendations of the Commission for Agricultural Costs and Prices and views of major coconut growing states.
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The announced MSP of copra for 2023 season is in line with the principle of fixing the MSP at a level of at least 1.5 times all India weighted average cost of production as announced by the Government in the Budget 2018-19.
It is one of the important and progressive steps towards ensuring better remunerative returns to the coconut growers and improving their welfare substantively.
National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED) and National Cooperative Consumers’ Federation (NCCF) will continue to act as Central Nodal Agencies (CNAs) for procurement of copra and de-husked coconut under Price Support Scheme (PSS).
It has been launched by the government of India. Under this scheme when the prices of commodities fall below the Minimum Support price (MSP), state and central notified procurement nodal agencies purchase commodities directly from the farmers at MSP under specified Fair Average Quality, this helps and protects the farmers against the economic loss in farming.
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