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Coconut oil prices slid on Thursday in Erode markets. Murugavel, a trader, said, “Two days ago the coconut oil was sold at ₹2,200/15-kg loose pack (₹147/kg), it decreased on Thursday by ₹40. There is no chance for further decrease, as some buyers purchased the coconut oil at the current level.” He said as usual Kerala oil crushers are buying copra from Perundurai, Erode and some other places for crushing. They quoted ₹10,500 a quintal for copra and purchased huge quantity from Perudurai Cooperative Marketing Society. Edible copra price shot up to ₹12,800 and demand has increased this week. A good quantity of edible copra is being exported to Pakistan. Farmers said that some big companies are buying copra at a higher price and coconut oil stocks with crushers are decreasing. The sale of coconut oil is likely to increase in Kerala as Ramzan is fast approaching.
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