Commodities

Coconut oil prices cool

Our Correspondent Kochi | Updated on June 10, 2014 Published on June 10, 2014




After showing an uptrend in the last few weeks, the coconut oil market in Kerala started moving southwards with prices touching ₹13,900/quintal this week. In Tamil Nadu, it was ₹13,200.

Thalath Mahmood, Director, Cochin Oil Merchants Association, said that prices had touched a record ₹15,800/quintal a fortnight ago and this has created a panic situation forcing the market to cool down. There was also a consumer shift to other edible oils.

However, the low availability of copra in the State forced traders to depend on the Tamil Nadu markets. This has resulted in a subdued demand for the commodity from upcountry buyers as well as from corporates. Copra prices in Kerala and Tamil Nadu stood at ₹9,800/quintal.

He said that the high demand for raw coconuts in West Asian and Pakistan markets for the upcoming Ramzan month has pushed up prices in the range of ₹22 to ₹26. Bharat Khona, former Board Member of COMA said that the commencement of monsoon in Kerala has also contributed to price fall. The loose oil market in Tamil Nadu stood at ₹2,050 for 15 kg which has come down from ₹2,300 last week.



Published on June 10, 2014
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