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Coconut oil and copra prices decreased at Erode markets due to weak buying. “Within a week’s time coconut oil declined sharply to ₹1,650 for 15-kg loose pack due to very poor demand from other places.
The crushers are having adequate stock of coconut oil with them expecting good demand, but the decrease in the price has caused worries for them. The price of coconut oil may decrease further as the price of the copra also drastically came down to ₹7,500-8,000 a quintal,” said RM Palanisamy, an oil trader.
Palm oil was at ₹5,000, while palm kernel was sold at ₹9,000 a quintal.
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