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The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi has given its approval for the Minimum Support Prices (MSPs) for copra (dried coconut) for 2016 season. The decision is based on recommendations of Commission for Agricultural Costs and Prices (CACP). CACP, an expert body, takes into account the cost of production, overall demand-supply, domestic and international prices, cost of conversion of copra into coconut oil, the likely effect of the 'Price Policy on the rest of economy, besides ensuring rational utilisation of production resources like land and water, while recommending MSPs.
The MSP for Fair Average Quality (FAQ) of ‘Milling Copra’ has been increased to Rs 5950 per quintal for 2016 season from Rs 5550 per quintal in 2015. Also, the MSP for FAQ of ‘Ball Copra’ has been increased to Rs 6240 per quintal for 2016 season from Rs 5830 per quintal in 2015. The 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 in the country.
The National Agricultural Cooperative Marketing Federation of India (NAFED) and National Cooperative Consumer Federation of India (NCCF) would continue to act as central nodal agencies to undertake price support operations at the MSP in the coconut growing states.