Commodities

Coconut oil loses ground to cheaper oils

Our Correspondent Erode | Updated on February 19, 2015 Published on February 19, 2015


Copra sales decreased this week as buyers purchased limited quantity.

“Demand for copra has decreased, though the arrival was high in all the sales centres in the district. This is due to the fact that demand for the coconut oil has come down sharply. Many buyers, expecting decrease in price, did not purchase the coconut oil. Similarly, many bakery owners stayed away from coconut oil as the palm kernel is selling at ₹86/kg against coconut oil which is at ₹132,” said RM Palanisamy, a trader.

He said that oil crushers are quoting decreased price for the copra and on Thursday the copra was sold at ₹9,500-9,700 a quintal. Coconut oil was available at ₹1,960-80 for 15-kg loose pack.

Published on February 19, 2015
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