Copra prices surgeed by Rs 1,110 a quintal at the Regulated Marketing Committee at Avalpoondurai as two millers.

Mr Dhandapani, Superintendent of the Avalpoondurai Regulated Marketing Committee, one of the biggest copra selling centres in India said: “This week, two big coconut oil millers from Kerala took part in the auction sale and bought large quantities. . Similarly, stockists, too, quoted a higher price for the commodity.”

The first-grade copra was sold at Rs 4,030-4,275 a quintal, which is Rs 1,110 a quintal higher than last week’s price. Similarly, the second grade was sold at Rs 3,365-3,935 a quintal. This was Rs 1,350 a quintal higher than last week’s rate. All the 5,624 bags (281 tonnes) were sold.

In Perundurai, too, copra was sold at a higher price. More than 150 tonnes were sold. The copra fetched Rs 4,100 a quintal.

Coconut oil traders said that coconut oil has remained unchanged and is selling below Rs 900 for a 15-kg loose pack. So, oil crushers have retained the stock after buying the copra,hoping prices of coconut oil will be up in the first week of August when copra purchases too will go up, thereby increasing copra prices .

(This article was published on July 20, 2012)
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