Based on recommendations of Commission for Agricultural Costs and Prices (CACP), the Cabinet Committee on Economic Affairs has given its approval for an increase in the Minimum Support Price (MSP) for Fair Average Quality (FAQ) of “Milling Copra” to Rs.7500 per quintal for 2018 season from Rs. 6500 per quintal in 2017.
The MSP of copra is expected to ensure appropriate minimum prices to the farmers and step up investment in coconut cultivation and thereby production and productivity in the country.
The Commission for Agricultural Costs & Prices (CACP) is an attached office of the Ministry of Agriculture and Farmers Welfare, Government of India. It came into existence in January 1965. Currently, the Commission comprises a Chairman, Member Secretary, one Member (Official) and two Members (Non-Official). The non-official members are representatives of the farming community and usually have an active association with the farming community.
It is mandated to recommend minimum support prices (MSPs) to incentivize the cultivators to adopt modern technology and raise productivity and overall grain production in line with the emerging demand patterns in the country. However, the Cabinet Committee on Economic Affairs (CCEA) of the Union government takes a final decision on the level of MSPs and other recommendations made by CACP.