Cabinet approves MSPs for copra for 2023 season
New Delhi/IBNS: The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi has approved Minimum Support Prices (MSPs) for copra for the 2023 season.
The approval is based on recommendations of the Commission for Agricultural Costs and Prices and views of major coconut-growing states.
The MSP for Fair Average Quality of milling copra has been fixed at Rs 10860 per quintal and for ball copra at Rs 11750 per quintal for the 2023 season.
This is an increase of Rs 270 per quintal for milling copra and Rs. 750 per quintal for ball copra over the previous season.
This would ensure a margin of 51.82 percent for milling copra and 64.26 percent for ball copra over the all-India weighted average cost of production.
The announced MSP of copra for the 2023 season is in line with the principle of fixing the MSP at a level of at least 1.5 times all India weighted average cost of production as announced by the Government in the Budget 2018-19.
It is one of the important and progressive steps towards ensuring better remunerative returns to the coconut growers and improving their welfare substantively.
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 Price Support Scheme (PSS).
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
Fish trader arrested under POCSO Act for raping a minor in Agartala
Chief Minister kicked off grand ‘Mayer Goman’ festival amidst huge crowd
Two Indian men jailed, caned for robbing and assaulting sex workers in Singapore hotels
Pakistan offers Trump $1.2 billion Pasni port project near India’s Chabahar in bid to reset US ties
