Prices of second grade copra improved as demand increased from oil crushers.
A. Dhandapani, Superintendent, Avalpoondurai Regulated Market Committee, said, “The price of coconut oil is higher than the palm oil, so some oil crushers quoted lower price for copra. But some oil crushers from Kerala and Kangeyam have purchased more than 150 tonnes of copra. They gave priority for the second variety”.
He said the first variety copra decreased by Rs 40 a quintal and it was sold at Rs 4,255-4,505; the second variety fetched Rs 3,495-4,290.
All the 210 tonnes were sold.
Kerala traders purchased 30 per cent of the stocks.
Coconut oil crushers said that the price of coconut oil was higher than palm oil which is selling at Rs 50 a kg. A majority of the biscuit manufacturers prefer palm oil.
R.M. Palanisamy, a coconut oil dealer, said the price of coconut oil has come down to Rs 900 for 15 kg loose pack; the palm kernel oil was also down to Rs 550.