Comments
The coconut oil market – both in Kerala and Tamil Nadu – continues to witness a declining trend as it registered a drop of ₹1,000 a quintal in the last 10 days.
It is reported that coconut oil price in Kerala has come down to ₹12,200 this week, registering a crash of ₹700/quintal from last week while the fall was ₹1,000 in Tamil Nadu at ₹11,500.
Copra prices also lost the steam at ₹8,400/quintal against ₹8,900 quoted last week in Kerala and in Tamil Nadu, the figure touched ₹8,000 from ₹8,500. Thalath Mahmood, Director, Coconut Oil Merchants Association (COMA), said that the market has started sliding down and the drop is expected to continue further.
According to the trade, the coconut oil market is likely to settle down at ₹10,000 especially with good arrivals and availability from all the production centres including from Lakshadweep and the Andamans with the commencement of the harvest season, he said. However, upcountry buyers and corporates are keeping away from the market even at this low price levels on anticipation of a further fall.
Bharat Khona, former board member of COMA, said that the price drop has reflected in the loose oil market in Tamil Nadu which stood at ₹1,700 for 15 kg from ₹1,850 quoted last week.
Comments
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.