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Coconut, which is quoting at Rs 6-7 a nut at the farm gate, is expected to increase by Re 1-Rs 2 beginning September.
Similarly, copra, which is ruling at around Rs 47 a kg now is expected to touch Rs 50 in a month’s time, marking the beginning of the festival season, say trade sources.
The Tamil Nadu Agricultural University, however, clarified that this would be applicable for nuts in the Pollachi market and copra in Avalpoondurai markets.
Advising farmers to take decision on selling accordingly, the Domestic and Export Market Intelligence Cell functioning at the farm varsity said that the econometric analysis of coconut and copra revealed that prices would go up during Dasara and Deepavali and thereafter.
Trade sources, meanwhile, said that the production this season was lower by 30 per cent.
Yet, prices had not moved up as there was low corporate demand for the coconut oil, fall in consumption due to import of cheaper edible oils.
The Government’s estimates for 2012-13 show that coconut was grown on 2.13 million hectares with a production of 15.35 million tonnes of nuts.
Tamil Nadu is next only to Kerala in production accounting for 31.02 per cent of the total production. Close to 70 per cent of the nuts are used for oil extraction.
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