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Coconut oil prices increased to ₹2,140 for a 15-kg loose pack on Friday morning but fell to ₹2,050 in the afternoon. Many buyers were not interested in buying as they have ample stock with them, and also suspect that the current price may decrease any time, said R M Palanisamy, an oil trader.
He also said some oil crushing units procured copra at a high price of ₹11,000/quintal, but they are complaining about the poor out-turn (production of oil) has come down not feasible for the present price hike. So many buyers of copra are quoting decreased price buying the same.
Some traders said the price of coconut oil falls during the Tamil Month of Aadi , but this year prices have gone up. At the Perundurai Co-operative marketing society, 140 tonnes of copra arrived for sale and fetched ₹10,200 to ₹10,500 a quintal. Kerala oil crushers showed a special interest in buying the copra and are buying the copra in open market at ₹10,200 a quintal; more than 1,200 tonnes of copra were purchased by Kerala oil crushers in a week.
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