New Delhi, March 22 (IANS) The Cabinet Committee on Economic Affairs has given approval for Minimum Support Price (MSP) of Rs 6,500 for Fair Average Quality (FAQ) of milling copra for the 2017 season compared to Rs 5,950 per quintal in 2016.
The MSP for FAQ of ball copra has been increased to Rs 6,785 per quintal from Rs 6,240 in 2016.
According to an official release, the MSP of copra is expected to ensure appropriate minimum prices to farmers and step up investment in coconut cultivation.
The approval is based on recommendations of Commission for Agricultural Costs and Prices (CACP).
CACP, which is an expert body, takes into account the cost of production, trends in the domestic and international prices of edible oils, overall demand and supply of copra and coconut oil, cost of processing of copra into coconut oil and the likely impact of the recommended MSPs on consumers, while recommending the MSPs.
The National Agricultural Cooperative Marketing Federation of India Limited and National Cooperative Consumer Federation of India Limited will continue to act as central nodal agencies to undertake price support operations at the MSPs in the coconut growing states.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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