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Coconut oil prices ruled steady at Rs 80 a kg in Kerala's wholesale markets and Rs 78 a kg in Tamil Nadu.
Copra arrivals, which mainly come from Tamil Nadu, remained tight as the North East monsoons which have set across the southern districts of the State, has limited conversion of coconut into copra and further into coconut oil. Copra was quoting at Rs 45 a kg in both Kerala and Tamil Nadu.
One salient feature of the market has been the steady price trends of coconut even as coconut oil prices breached the Rs 100/kg-mark before declining to less than Rs 80, Dr K Satheesh Babu from the Market Intelligence Centre of the Kerala Agricultural University said.
A new demand has emerged for coconuts with the onset of the Sabarimala season. There is also a demand for edible copra during the festival season in North India. Also an increasing demand for tender coconuts that has reduced the availability of coconuts for conversion into copra and later into coconut oil.
Consequently, whichever manner coconut oil prices fluctuated, coconut prices have remained more or less steady in recent months, Dr Satheesh Babu said.
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