New Delhi, Dec 23 (IANS): The Union Cabinet on Friday approved minimum support prices (MSPs) for copra for 2023 season,fixing it at Rs 10,860 per quintal for fair average quality of milling copra and at Rs 11,750 per quintal for ball copra.

The approval is based on recommendations of the Commission for Agricultural Costs and Prices and views of major coconut-growing states, Minister for Information and Broadcasting Anurag Thakur told media persons.

This is an increase of Rs 270 per quintal for milling copra and Rs 750 per quintal for ball copra over the previous season.

This would ensure a margin of 51.82 per cent for milling copra and 64.26 per cent for ball copra over the all India weighted average cost of production.

The announced MSP of copra for 2023 season is in line with the principle of fixing the MSP at a level of at least 1.5 times all India weighted average cost of production as announced by the government in the budget for 2018-19.