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Kerala oil crushers purchased a good amount stock of first and second variety copra as prices increased on Friday at the Avalpoondurai Regulated Market Committee.
Dhandapani, Superintendent of the Committee, said: “The price of copra increased to Rs 4,805 a quintal – Rs 200 more than last week price. Similarly, the second variety was sold at Rs 4,450. Arrivals are also on the rise”.
On Friday, 300 tonnes of copra arrived and were sold amidst heavy competition among buyers. He said that due to increase in coconut oil price in the market, buyers were quotd higher price and purchased all the varieties.
R.M. Palanisamy a leading coconut oil dealer, said: “Suddenly the price of coconut oil has risen to Rs 975 to Rs 1,000 for 15-kg loose pack. This is the highest price for the coconut oil during this calendar year. This trend will continue for another month”.
He also said that though oil crushers are having good stock of copra and coconut oil are interested in buying the copra. He predicted that due to heavy production of edible oils in India, prices will come down soon.
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