CHENNAI: Tamil Nadu Chief Minister MK Stalin on Monday urged Prime Minister Narendra Modi to take appropriate action to increase the procurement target of Copra from 56,000 MT to 90,000 MT.
"I request you to kindly issue necessary instructions to the concerned Ministry to enhance the quantity ceiling from the existing 25 per cent to 40 per cent for procurement of copra in the current season till September 2023 and also to increase the procurement target from 56,000 MT to 90,000 MT for the State of Tamil Nadu, which will help in stabilising the market price of copra and thus will benefit the coconut growers in the state," Stalin said in a letter to Modi.
Though copra procurement under Price Support Scheme (PSS) was initiated in the year 2019 in Tamil Nadu, the procurement was negligible during the initial years as the market prices were well above the MSP.
However, from 2022 onwards, the trend reversed due to increased production of coconut.
"As a result, the market price of coconut declined from about Rs 2,500 per quintal to Rs 1,500 per quintal. Similarly, the market price of copra declined from nearly Rs 11,500 per quintal to Rs 8,100 per quintal. This has resulted in a spike in the procurement of copra under PSS in the year 2022 and current year, " he added.