The federal government on Wednesday introduced a rise of Rs 250-300 per quintal within the minimal assist value (MSP) for coconut at Rs 11,160-12,000 per quintal for the 2024 season.
A choice on this regard was taken at a gathering of the Cupboard Committee on Financial Affairs (CCEA) chaired by Prime Minister Narendra Modi.
“Copra costs have declined globally. However the Modi authorities has determined to offer the minimal value of manufacturing by not less than 50 per cent increased than the price of manufacturing. Accordingly, the value of copra has been elevated by Rs 250-300 per quintal for the 2024 season.” Data and radio. Minister Anurag Thakur mentioned at a press convention.
He mentioned the minimal value of honest and medium high quality dried coconut (FAQ) has been elevated by Rs 250 to Rs 12,000 per quintal, whereas the assist value of floor coconut has been raised by Rs 300 to Rs 11,160 per quintal subsequent 12 months.
It will guarantee a margin of 51.84 per cent for coconut grinding and 63.26 per cent for copra, far exceeding 1.5 instances India’s weighted common value of manufacturing, an official assertion mentioned.
In a put up on X, the Prime Minister mentioned the Cupboard’s approval to extend the minimal subsidy for dried coconut seeds will guarantee better revenue margins for farmers. “This necessary step reaffirms our dedication to empowering India’s coconut farmers and strengthening our agricultural sector,” he mentioned.
Within the final 10 years, the federal government has elevated the minimal value of coconut grinding and ball coconut from Rs 5,250 per quintal and Rs 5,500 per quintal, respectively in 2014-15 to Rs 11,160 per quintal and Rs 12,000 per quintal within the 2024-25 season.
The utmost assist value is not going to solely guarantee higher remunerative returns to coconut farmers however can even encourage farmers to broaden copra manufacturing to satisfy the rising demand for coconut merchandise each domestically and internationally, the assertion mentioned.
Within the present 2023 season, the federal government has procured a file amount of over 1.33 lakh tonnes of copra at a value of Rs 1,493 crore, benefiting round 90,000 farmers. Purchases elevated by 227 p.c this season in comparison with the 2022 season.
Nationwide Agricultural Cooperative Advertising Federation of India Restricted (NAFED) and Nationwide Cooperative Customers Federation (NCCF) will proceed to behave as nodal companies for procurement of copra and dehusked coconuts beneath the Value Help Scheme (PSS).
Grinding coconut is used to extract the oil, whereas dried/edible coconut is consumed as dry fruit and used for spiritual functions. Kerala and Tamil Nadu are the foremost producers of coconuts, whereas coconuts are largely produced in Karnataka.
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