The arrival of copra for sale in the Avalpoondurai Regulated Market Committee decreased this week due to rain.
“We expected more than 1,500 quintals of copra on Friday, but only 900 quintals arrived for sale and all of them were sold. Because of rain in many places in the district, farmers were not able to dry their copra.
Further, the price of coconut oil is declining as the sale is too low in Kangeyam and Kerala,” said Pachamuthu, a grower. Copra fetched Rs 5,800 a quintal in private trading and Rs 5,600 at the market committee.
Some coconut oil crushers said that they are having adequate stock of copra and Kerala crushers did not participate in the auction sale of copra conducted in Avalpoondurai RMC and other places in Erode district due to Onam.
They said that they will close the crushing units for ten days till September 23.
Due to such closure, coconut oil production will drop, but the price of coconut oil was maintained at Rs 76 a kg (Rs 1,140 for 15-kg loose pack) and there is a chance for further decrease in price, said R.M. Palanisamy, a coconut oil dealer.
He said that still the palm kernel is selling at Rs 57-58 a kg, palmoline oil at Rs 56.