Recently the Economic Affairs Committee of the Union Cabinet has approved the Minimum Support Price of Copra.

Recently the Economic Affairs Committee of the Union Cabinet has approved the Minimum Support Price of Copra.

Daily Current Affairs   /   Recently the Economic Affairs Committee of the Union Cabinet has approved the Minimum Support Price of Copra.

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Category : Business and economics Published on: December 29 2023

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  • Copra is called coconut in general sense.
  • The Committee on Economic Affairs of the Union Cabinet has approved the Minimum Support Price of Copra in December 2023.
  • The Committee on Economic Affairs of the Union Cabinet has approved the Minimum Support Price of 2 types of copra.
  • These types are – Milling Copra and Ball Copra.
  • MSP for fair average quality of milled copra for the year 2024 season. It has been fixed at Rs 11,160 per quintal.
  • MSP for ball copra The price has been fixed at Rs 12000 per quintal.
  • MSP for milling copra in the year 2024 season has been an increase of Rs 300 per quintal compared to the previous season.
  • The price of ball copra has increased by Rs 250 per quintal.
  • To provide remunerative prices to farmers, the Government had announced in the Union Budget 2018-19 that the MSP of all essential crops will be all India-weighted production cost will be fixed at a minimum level of 1.5 times.
  • Minimum support price is recommended by the Commission for Agricultural Costs and Prices.
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