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Coconut oil prices decreased a tad at Erode on the back of huge arrivals of coconut from Kerala.“The price of the coconut oil, which was sold at a high of ₹2,300 for 15 kg , decreased by ₹30. For such a heavy price some quantity of coconut oil was sold. The buyers are expecting a slide purchased very little quantity,” said RM Palanisamy, a oil trader on Friday.
He said that the price of copra has increased to ₹11,000 a quintal and the edible copra at ₹13,000. Because of the low stock of copra the price of the coconut oil has increased, he added.
On Friday, the copra farmers said that Kerala oil crushers have purchased about 1,500 tonnes of (roughly 15 lorry loads), as the South-West monsoon will start within a week. Now the Kerala coconuts are arriving in huge quantity to Erode. Farmers are engaged in converting the coconuts into copra and within a week 800 tonnes of copra was sold from Erode to Kerala oil crushers and some other coconut oil crushers of Tamil Nadu.
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