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Though oil crushers are ready to sell coconut oil at a lower price, it found no takers on Wednesday as traders are expecting further drop in prices.
“Oil crushers are ready to sell the oil at ₹2,070 to ₹2,100 for a 15-kg loose pack. But buyers are keeping off,” said RM Palanisamy, an oil dealer.
Meanwhile, copra prices have also dropped sharply. There has been further setback with Pakistan cancelling orders. Some 200 tonnes of copra that arrived for sale was sold at ₹9,600 to ₹10,050 a quintal. Only one popular coconut oil crusher of Tamil Nadu procured all the copra stock.
Coconut sellers in Karnataka and Kerala are ready to reduce prices, as they have huge coconut stocks with them. The price of palm oil is also stable at ₹5,150 a quintal.
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