Financial Daily from THE HINDU group of publications
Wednesday, Jun 12, 2002
Financial Daily from THE HINDU group of publications Wednesday, Jun 12, 2002 |
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Agri-Biz & Commodities
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Coconut & Copra Copra purchase soon: Nafed Harish Damodaran
NEW DELHI, June 11 ``WE are waiting for the required credit lines from the Reserve Bank of India (RBI). Once that is approved, which is likely soon, we can commence copra procurement,'' Mr S.C. Singhal, Additional Managing Director (Oilseeds), Nafed, told Business Line. With the Centre not formally declaring an MSP for copra during 2002-03, Nafed has been asked to procure the same at last year's MSP of Rs 3,300 per quintal for mill copra and Rs 3,550 per quintal for ball copra. Nafed officials were, however, hopeful that with open market prices recovering to Rs 2,800-2,850 per quintal, the cooperative would not have to intervene to the extent it was forced to in the recent past. ``Unlike for mustard or soyabean, where open market prices have risen above MSP following our intervention, we have not succeeded in achieving this for copra,'' they admitted.
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