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Shortage of copra has lifted the coconut oil to a record high of ₹122 a kg in Kerala and ₹120 in Tamil Nadu. Bharat N Khona, former Board Member of Cochin Oil Merchants Association, said that though the season started picking up slowly in Kerala, low arrivals have pushed up copra prices. Corporate oil marketing companies and upcountry buyers are not interested in buying at higher prices and they are waiting for a correction. Added to the high prices, there is a fear of adulteration of coconut oil with other cheaper edible oils, he said. Copra prices are ruling at ₹90/kg in Tamil Nadu while in Kerala, it was ₹92. The price of loose oil for 15 kg is quoting at ₹1,790 in Tamil Nadu. Thalath Mahmood, Director, COMA, also cited low arrivals of copra and less corporate demand as the reason for price surge. The market is expected to stabilise by the mid-March with the starting of season in Tamil Nadu.
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