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Copra rose by Rs 300 a quintal on demand from Kerala on Monday.
“The price rose at the Avalpoondurai Regulated Marketing Committee As Kerala oil traders quoting higher,” said Dhandapani, Superintendent of the Marketing Committee.
He said the fine variety was sold at Rs 4,045-4,225 a quintal and the second variety at Rs 3,425-3,825 a quintal. Prices in the Perundurai Cooperative Marketing Society also increased slightly at Rs 4,200 a quintal. Three thousand quintals of copra were sold. For want of space, farmers had to take back more than 500 quintals to the godowns.
However, R.M. Palanisamy, an oil trader, said the price of coconut oil has not improved and it is still selling at Rs 900 for a 15-kg loose pack. He said in the international price of coconut oil had not increased compared with other oils. He expects that coconut oil will decrease a little after Onam festival and improve again some days later.
Palanisamy said many farmers are expecting that copra will increase within a fortnight, when the prices of coconut oil will also improve.
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