• UGI USER
  • Dec 28, 2023
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Minimum Support Price

News:

The Cabinet Committee on Economic Affairs CCEA has approved the Minimum Support Price – MSP for Copra for the 2024 season. MSP this year will be rs 300  per quintal higher than last year for milling Copra and rs 250 per quintal higher for ball copra.

About MSP:

The guaranteed sum that farmers receive when the government purchases their produce is known as the MSP.

The Commission on Agricultural Costs and Prices (CACP), which takes into account a variety of factors like production costs, supply and demand, market price trends, inter crop price parity, etc., provides recommendations that serve as the foundation for MSP.

The MSP aims to promote crop diversification and guarantee growers receive fair pricing for their produce.

The CACP recommends MSPs for 22 mandated crops and fair and remunerative price (FRP) for sugarcane. out of these, 16 are kharif crops, 6 are Rabi crops, and 2 are co,,ercial crops.