Comments
The recent price improvement in copra seems to have prompted the government agencies to hold up the procurement drive for the 2016 harvest season.
The time is not ripe to enter the market for an immediate procurement, considering the recent improvement in copra prices now ruling at ₹5,500 a quintal both in Kerala and Tamil Nadu, official sources said.
Moreover, the Tamil Nadu government has also not taken steps to exempt the five per cent VAT imposed on copra.
Nafed has fixed the minimum support price for 2016 season at ₹59.50/kg for milling copra and ₹62.40 for ball copra for three months.
However, Thalath Mahmood, President, Cochin Oil Merchants Association, attributed the recent price rise to increase in local demand ahead of Vishu festival in Kerala.
The demand has pushed up coconut oil prices at ₹7,700 per quintal in Kerala and in Tamil Nadu it was ₹7,500, he said.
Comments
COMMENT NOW
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.