On Wednesday, the Cabinet Committee on Economic Affairs approved an increase in copra’s Minimum Support Price (MSP) for the 2022 season.
For the 2022 season, the MSP for Fair Average Quality (FAQ) milling copra will be $10,590 per quintal, up 2.5 percent from $10,335 in 2021, and $11,000 for round copra, up 3.8% from $10,600 in 2021.
Increase in Copra MSP:
The modal price (at which most trades take place) for milling copra is 10,000 per quintal in Kerala and 10,600 in Tamil Nadu’s Kangeyam market.
“This will ensure a return of 51.85% on milling copra and 57.73% on Dry Round copra over the all-India weighted average cost of production.”
An official statement said: “The increase in MSP for copra for the 2022 season is consistent with the government’s Budget 2018-19 announcement to fix the MSP at least 1.5 times the all-India weighted average cost of production.
According to the Commission for Agricultural Costs and Prices (CACP), this decision will double farmers’ incomes by 2022 Year.
The National Agricultural Cooperative Marketing Federation of India (NAFED) and the National Cooperative Consumer Federation of India (NCCF) will continue to spearhead price support operations at the MSP in coconut-growing states.
What is copra used for?
Because it contains numerous nutrients such as proteins, vitamins, and minerals, it is consumed as food. Copra is pressed to produce a low-melting oil with a melting point of 23 degrees Celsius. In addition to cooking with it, this oil can also be used as a raw material to make products such as hair oils, shampoos, detergents, and margarine.