NEW DELHI: The Cabinet Committee on Economic Affairs on Friday approved the Minimum Support Price (MSP) of fair average quality of milling copra at Rs. 3,590 per quintal, an increase of Rs. 20 per quintal over the previous year.
It fixed the price of ball copra at Rs. 3,840 per quintal, raising it by Rs. 20 per quintal over the previous year for the 2006 season.
NAFED will continue to act as the central nodal agency to undertake price support operations of copra for the 2006 season.
The losses incurred, if any, by NAFED in its operations will be fully reimbursed by the Central Government.
The practice of declaring MSP of copra during January will be maintained so that timely price signal is received by all stakeholders in the market, including farmers, Defence Minister Pranab Mukherjee told reporters here.