Coconut oil prices retracted to ₹2,380 for 15-kg loose pack on Thursday after having zoomed a record earlier this week.
“On Thursday, coconut oil price slipped from Wednesday’s level of ₹2,400/15 kg to ₹2,360-₹2,380 on Thursday. But there was no sale; only 20 tonnes were sold in Kangeyam, the biggest coconut oil sales centre in the country,” said Murugavel, a trader.
Oil crushers said limited quantity of copra is arriving for sale. At the Perundurai Cooperative Marketing Society, copra was sold at ₹11,040 a quintal, ₹1,000 more than last week’s price. Some private dealers sold copra at ₹12,000. Edible copra fetched a record price of ₹13,500 a quintal.
Palm oil prices declined this week. Palm oil is available at ₹5,900 and palm kernel was sold at ₹9,500, said traders.