The government increased the MSP of copra crop by 52 percent.
The government has increased the minimum support price of milling copra by Rs 375. After which the government will buy milling copra from farmers at the rate of Rs 10,335 per quintal.
- Last Updated:January 27, 2021, 3:44 PM IS
Who is MSP- MSP is called the minimum support price. When the government decides the MSP for a crop. So in the mandi across the country, that crop is purchased from farmers at the minimum support price. After the MSP is fixed, the farmers do not have to worry much about selling their crop.
What is the current crop for MSP- Currently, the MSP is decided by the government for 23 crops. MSP is fixed for seven cereals, five pulses, seven oilseeds and four commercial crops. MSP is fixed for paddy, wheat, maize, barley, millet, gram, tur, moong, urad and lentils. MSP is also fixed for mustard, soybean, sunflower, sugarcane, cotton and jute. Governments have tried to expand the scope of MSP over time.Also read: Budget 2021: If you also give donation, then this time you can get big benefit in the budget, know what is the plan
Benefit from MSP- The biggest benefit for the farmers due to the fixation of the MSP is that even if the price of the crop comes down, he still hopes that he can sell his crop to the government on the MSP.