Copra, coconut prices up due to demand from Bangladesh

V Sajeev Kumar | Updated on: Mar 10, 2015

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Good demand for edible copra and coconuts from Bangladesh has impacted copra prices, which is ruling high both in Kerala and Tamil Nadu this week. This has led to a scarcity in the domestic market, affecting arrivals and price increase, which is quoting at ₹9,800 per quintal in Kerala (₹9,300) and ₹9,500 in Tamil Nadu (₹9,200).

Thalath Mahmood, Director, Cochin Oil Merchants Association (COMA) said that even the seasonal arrivals of the commodity have not yet picked up in many of the production centres.

However, the coconut oil market in both these states are remained more or less steady vis a vis last week levels at ₹13,300 per quintal in Kerala and ₹13,000 in Tamil Nadu. He said corporates and upcountry buyers are staying away from the market due to non availability of quality copra.

Bharat Khona, former Board Member said that low availability of copra has impacted the prices in the local market and this has also affected the demand.

There were also reports that the rising demand for tender coconuts especially in this summer has affected copra arrivals, as bulk of the commodity is currently being sold in the form of tender nuts. The coconut farmer producer organisations (FPO’s) formed in major coconut growing areas are making arrangements to supply fresh tender nuts in upcountry markets.   

Meanwhile, the Coconut Development Board officials claimed that the special drive initiated by Kerala Food Safety Commissioner to prevent adulteration of coconut oil has started showing results. The entry of adulterated oil in Kerala, the state which consume lion share of coconut oil in the country is on the decrease, which is expected to reflect on the price in the coming days.

Published on March 10, 2015
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