Copra and coconut oil prices rise

The price of the coconut oil and the copra has increased on Wednesday, After a slump for more than fifteen days.Copra, previously sold at ₹9,000 a quintal, was increased to ₹9,300. There are possibilities of further increase in copra price, said R M Palanisamy, a coconut oil trader. Due to the cyclone Gaja, well-grown coconut trees were uprooted, and so the availabilityof coconuts may decrease, and tender coconut and cooking coconut prices may also go up soon, he added.