Copra prices have gained on account of rains and low arrivals.
“The rain in rural areas has affected the drying of the coconut kernels and so, copra priceshave increased by Rs 300 a quintal. The fully dry copra fetched good demand and the sale in the Avalpoondurai Regulated Marketing Committee was encouraging” said Dhandapani, Superintendent of the Committee.
He said that on Monday, 130 quintals of copra (2600 bags) arrived for sale and all were sold.
Last Friday, 280 quintals of copra were sold. Most of the copra was purchased by Kerala-based crushers.
He said that the price of copra may increase in November as the North-East monsoon has set in.
On Monday, the fine variety copra was sold at Rs 3,935-4,060 a quintal, the second variety was sold at Rs 3,325-3,805. In other markets in Erode district the price of copra was increased by Rs 100 a quintal.
R.M. Palanisamy, a coconut oil dealer, said, “The crushers are happy as the price of coconut oil has increased by Rs 2-3 a kg. On Monday, the 15-kg loose pack of coconut oil was sold at Rs 850-900.