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Short supply of copra has pushed up coconut oil prices to a new high touching ₹127 a kg in Kerala and ₹125 in Tamil Nadu this week. Copra rates are ruling at ₹90/kg in both the States. Bharat N Khona, former Board Member, Cochin Oil Merchants Association (COMA), pointed out that the drought-like situation in Tamil Nadu has affected copra arrivals from terminal markets of Kangayam and Pollachi and this was the reason for the prices ruling at higher levels. Thalath Mahmood, Director, COMA, said that even though the season has commenced in Kerala, the arrival of sufficient quantity of copra is not visible in the market. This may further push the prices in the short term. He attributed exports of raw coconuts to West Asian markets in large quantities as the reasons for copra shortage. Corporates are purchasing copra at higher prices to meet their production requirements. The demand for tender coconuts during this summer season also contributed copra shortage, he said.
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