Cabinet Hikes 2024 Milling Copra MSP By Rs 300
The MSP for milling copra has been fixed at Rs 11,160 per quintal, while that for ball copra is Rs 12,000 per quintal.
The cabinet has approved the 'Minimum Support Prices' for copra, a coconut by-product, for the 2024 season.
The MSP for milling copra has been fixed at Rs 11,160 per quintal, while that for ball copra is Rs 12,000 per quintal. This is a Rs 300 per quintal increase for milling copra and a Rs 250 per quintal hike for ball copra.
"This will ensure a margin of 51.84% for milling copra and 63.26% for ball copra, which are well beyond 1.5 times the all-India weighted average cost of production," a release said on Wednesday.
Milling copra is commonly used to extract oil, while ball or edible copra is consumed as a dry fruit and used for religious purposes. Kerala and Tamil Nadu are major producers of milling copra, whereas ball copra is produced predominantly in Karnataka.
The government has procured over 1.33 lakh metric tonnes of copra at the cost of Rs 1,493 crore. The procurement in the current season indicates a rise of 227% over the previous season (2022), the release said.
