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The price of coconut oil which was at its in peak, fell on Wednesday. “The sale of coconut oil in Erode, Kangeyam and some other places in the country has fallen due to speculative trade. Many traders expect prices to fall sharply by this weekend. After Onam, prices are expected to fall further,” said Murugavel, a trader. He said that for the past 10 days the coconut oil industry is facing a slash in price.
From ₹2,300 for a of 15-kg loose pack it has decreased to ₹2,250-70. Meanwhile, copra fetched a maximum price of ₹10,500 a quintal at Vellakoil and Perundurai and more than 350 tins of copra were sold. Edible copra was sold at ₹13,500 a quintal. The copra farmers said that the sale has fallen as many crushers have adequate stock. Palm oil was sold at ₹5,300-5,500 a quintal while the palm kernel was sold at ₹8,800.
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