The Cabinet approved the Minimum Support Price (MSP) for copra season 2023.
The Cabinet Committee on Economic Affairs, CCEA approved the Minimum Support Price for Copra for the 2023 season on 23rd December.
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 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% for milling copra and 64.26% for ball copra over the all India weighted average cost of production.
The announced MSP of copra for 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.