Tamil Nadu Cooperative Marketing Federation Limited (TANFED) began procuring copra on Wednesday under price support scheme to the relief of several thousands of cultivators, reports Hindu.
The procurement was initiated at the Avalpoondurai Regulated Market in Erode by District Collector S. Prabakar in the presence of Erode MP Selvakumara Chinnaiyan, MLAs K.S. Thennarasu and V.P. Sivasubramani, Joint Registrar of Cooperatives S. Ramadass and other senior officials.
Milling copra was procured for Rs. 59.50 per kg and ball copra for Rs. 62.40 per kg to safeguard farmers from market vagaries. Earlier this month, Chief Minister Jayalalithaa announced that copra would be procured through Direct Procurement Centres for the next six months.
TANFED, which was designated as the nodal agency for copra procurement by the Coconut Board during 2012, will transfer the stock to National Agricultural Cooperative Marketing Federation of India.