Comments
Coconut oil prices increased by ₹17 a kg this week mainly on speculation supplies could be affected by the Monsoon setting in.
“Coconut oil prices increased by ₹250 for a 15-kg loose pack this week and the )rise is an artificial,” said RM Palanisamy, a coconut oil trader.
He said last week coconut oil was sold at ₹1,830-1,850 loose pack. Prices were up by ₹100 on Wednesday and again on Thursday. Meanwhile, the price of copra also increased at ₹9,500 to ₹9,700 a quintal, which is ₹1,500 a quintal more than last week’s price. In the private market copra was sold at ₹10,000 a quintal. Many private traders are keeping huge stocks with them, expecting further increase in prices. Edible copra was sold at ₹11,000 a quintal.
The price of palm oil remains almost same at ₹5,550 a quintal. Many coconut oil users already deflected to palm oil. Many crushers with huge stock of coconut oil expect prices to increase again.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.