Coconut oil prices increased, while copra sales have also gone up.
“The price of the coconut oil has touched at Rs 1,150 for 15 kg loose pack and the palm kernel has decreased slightly. But the demand for the coconut oil from various biscuit firms has increased.
“Considering the situation, the price of coconut oil may increase further,” said R.M. Palanisamy, a coconut oil trader.
He said that one of the biscuit companies purchased good quantity of copra at a higher price.
All the 1,150 quintals were sold.
The price of copra increased by Rs 135 a quintal.
Market officials said that because of the increase in price, more farmers will bring copra next week.
At the Avalpoondurai Regulated Market Committee, the first grade copra was sold at Rs 5,300-5,560, second grade was sold at Rs 4,060-5,265.