Minimum Support Price For Copra:
The Cabinet Committee on Economic Affairs, has approved the Minimum Support Prices (MSPs) for copra for the 2024 season.
- The move aims to provide better returns to coconut growers, encourage copra production, and meet the growing demand for coconut products.
- Copra is the dried, white flesh of the coconut. It’s a major cash crop and is valued for the coconut oil that can be extracted from it.
- The MSP is a form of government intervention to protect farmers from steep declines in the prices of their goods.
- The MSP is based on a calculation of at least one-and-a-half times the cost of production incurred by the farmers.