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CCEA gives its approval for MSP of copra for year 2021

  • IASbaba
  • January 29, 2021
  • 0
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CCEA gives its approval for MSP of copra for year 2021

Part of: GS Prelims and GS-III – Agriculture 

In news

  • The Cabinet Committee on Economic Affairs has given its approval for the Minimum Support Price (MSP) of copra for 2021.

Key takeaways 

  • Copra is the dried meat or kernel of the coconut, which is the fruit of the coconut palm (Cocos nucifera).
  • Coconut oil is extracted from copra, making it an important agricultural commodity for many coconut-producing countries.
  • The MSP for Fair Average Quality (FAQ) of milling copra has been increased, by Rs.375/-, to Rs. 10335/- per quintal for 2021 season from Rs. 9960/- per quintal in 2020.
  • The approval is based on recommendations of the Commission for Agricultural Costs and Prices (CACP).
  • The increase in MSP for copra for 2021 season is in line with the principle of fixing the MSP at a level of at least 1.5 times the all India weighted average cost of production which was announced by the Government in the Budget 2018-19.

Do you know? 

Important value addition

National Agricultural Cooperative Marketing Federation of India Ltd (NAFED)

  • It is an apex organization of marketing cooperatives for agricultural produce in India.
  • It was founded on 2nd October 1958.
  • It is registered under the Multi-State Co-operative Societies Act, 2002.
  • NAFED is now one of the largest procurement as well as marketing agencies for agricultural products in India.
  • Objectives: (1) To organize, promote and develop marketing, processing and storage of agricultural, horticultural and forest produce; (2) To distribute agricultural machinery, implements and other inputs; (3) To act and assist for technical advice in agricultural production

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