Comments
Despite low domestic consumption, coconut oil market in Kerala and Tamil Nadu is showing a steady trend this week.
Prices in Kerala stood at Rs 63 per kg (Rs 64.50) and Rs 61 in Tamil Nadu against Rs 62 quoted last week.
Copra prices are also ruling at Rs 4,400 per quintal (Rs 4,450) in Kerala, while the prices in Tamil Nadu were quoting at Rs 4,100 per quintal (Rs 4,200).
Thalath Mahamood, former President, Cochin Oil Merchants Association (COMA), pointed out that the market is steady at lower levels and local demand post festival (Vishu) season has declined. The market is likely to remain at the same level this week.
Upcountry demand
He pointed out that upcountry demand for copra is also less even after the commencement of the season in Kerala where there is good availability of milling copra from the terminal markets.
He attributed the absence of a proper procurement drive by the designated agencies as the reason for low copra prices.
Other edible oils such as palm oil stood at Rs 52 per kg (Rs 53) and palm kernel oil remained at the same level of Rs 55 per kg, quoted last week.
However, procurement of raw coconuts at Rs 16 per kg by local cooperative societies on a limited scale in some parts of Kerala has brought some cheers to the coconut farming community.
Bharat N. Khona, former Board Member, COMA, pointed out that the market is not showing any upward trend particularly because of the cheap availability of other edible oils. Upcountry buyers are adopting a ‘wait and watch mode’, he said.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.