Coconut oil prices continued to rule high despite higher arrivals of copra from Kerala into Tamil Nadu. The higher prices, however, affected sales on Friday in Erode.

“ Coconut oil is selling at ₹1,650 for 15 kg loose pack. Prices have been ruling higher for the last two months, but sales have been low,” said R.M. Palanisamy, a coconut oil dealer.

Upcountry demand for edible copra and coconut oil is low this year, he said. Price of all edible oils including coconut oil is ruling low in the international market. Buyers bought oil only for domestic use, he said. In the open market, copra is selling at ₹7,800-8,200 a quintal.

Erode copra farmers said that due to drought in the district, production of copra has dropped by 50 per cent, but prices have not increased. Now, coconut oil crushers are in need of copra, there is a shortage of copra. So, crushers are buying Kerala copra.

At the Avalpoondurai Regulated Market Committee, first grade copra was sold on Friday at ₹ 7,705-8,010 a quintal, second grade at ₹6,465-7,825 a quintal. Only 55 tonnes of copra arrived for sale and the entire quantity was sold. The price of the copra is ₹50 a quintal higher than last week.

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