CCEA Increases the Minimum Support Prices for Copra for 2023 Season

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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How Much Is The Increase:

• The MSP for Fair Average Quality of milling copra has been fixed at Rs. 10860/- per quintal and for ball copra at Rs. 11750/- per quintal for 2023 season.
• This is an increase of Rs. 270/- per quintal for milling copra and Rs. 750/- per quintal for ball copra over the previous season.
• This would ensure a margin of 51.82 percent for milling copra and 64.26 percent for ball copra over the all India weighted average cost of production.

Its Significance:

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.

Who Will Procure This:

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).

About Price Support Scheme:

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.