Central government increased 'Copra' price to support south Indian coconut growers
To woo southern Indian farmers in the upcoming general election, the government has announced the minimum support price (MSP) for Copra (dried coconut) for the 2024 season. The increment is less than the previous year.
Kerala and Tamil Nadu are major producers of milling copra, whereas ball copra is produced predominantly in Karnataka. The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi, has given its approval for the MSP.
The increase is 2.7% of MSP for milling copra while 2% increase for ball copra. In 2022, the government had increased for season 2023, 2.5% and 7% for milling and ball copra, respectively.
Milling copra is used to extract oil, while ball/edible copra is consumed as a dry fruit and used for religious purposes. The government has increased Rs 300 of milling copra fixed at Rs 11,160/quintal whereas for ball copra, it has increased to Rs 250 at Rs 12000/quintal for the 2024 season. The government said that the total increment is at least 1.5 times the cost of production.
“This will ensure a margin of 51.84 percent for milling copra and 63.26 percent for ball copra, which are well beyond 1.5 times the all-India weighted average cost of production,” briefed Anurag Thakur, Minister of Information and Broadcast. He further said MSP of copra has more than doubled in the past ten years.
“In the last 10 years, the MSP for milling copra and ball copra from Rs.5,250/quintal and Rs.5,500/quintal in 2014-15 to Rs.11,160/quintal and Rs.12,000/quintal in 2024-25, registering a growth of 113 percent and 118 percent, respectively,” Thukur told media.
In the current season 2023, the Government has procured a record amount of more than 1.33 lakh metric tonnes of copra, at the cost of Rs.1,493 crores, benefiting around 90,000 farmers. The procurement in the current season 2023 indicates a rise of 227 percent over the previous season (2022).
“National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED) and National Cooperative Consumers’ Federation (NCCF) will continue to act as Central Nodal Agencies (CNAs) for procurement of copra and de-husked coconut under the Price Support Scheme (PSS),” said Thakur.