Higher copra arrivals set to cool coconut oil

The commencement of the coconut season in Kerala since January has kindled hopes among traders for a fresh market revival in coconut oil.

Thalath Mahmood, Director, Cochin Oil Merchants Association (COMA) said that arrivals of edible copra were good. Coconut oil prices, now ruling at over ₹13,000 per quintal, are likely to come down shortly.

Consumption affected According to him, high prices have affected domestic consumption considerably in the recent past, with consumers shifting to cheaper edible oils.

Meanwhile, the market is ruling steady with a prices touching ₹13,700 per quintal in Kerala, an increase of ₹100 compared with last week. Bharat Khona, former Board Member, said that copra market is still ruling higher though the season has begun. Prices are expected to fall once supply improves.

However, Coconut Development Board officials differed, pointing out that only Kanyakumari reported a slight improvement in production.