Due to the buying of copra by the Kerala coconut oil crushers, the price of copra increased on Friday by Rs 400 a quintal.
According to Dhandapani, Superintendent, Avalpoondurai Regulated Market Committee, 2,300 tonnes of copra (4,600 bags) arrived for sale and the demand for the same from Kerala was high. All the quantity was sold.
They offered higher price and the first variety was sold at Rs 4,010- 4,545, while the second variety was sold at Rs 3,810-4,185.
Prices are higher than last two week prices. Sales also very encouraging, said officials.
The price in the Perundurai Cooperative Marketing Society was lower than Avalpoondurai Market, as the fine variety was sold at Rs 4,400 and the second variety at Rs 4,000.
“Because price of palm kernel oil has decreased, coconut oil sales were affected in Kangeyam and other areas.
The palm kernel oil is available at Rs 48-50 a kg, while coconut oil is selling at Rs 61.
Palm kernel oil is used for biscuit and soap industries in large quantities. So the coconut oil sales were totally affected”, said a leading coconut oil dealer R.M. Palanisamy.
He said the coconut oil crushers are having enough stock of copra, but still they are buying copra at increased price due to quantity. He said many crushers are waiting for orders for the coconut oil from North India.