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Coconut oil prices decreased here on Wednesday. “Crushers are shocked over the downtrend which is due to poor demand and decrease in copra prices. Prices were at ₹1,360-1,400 for 15-kg loose pack. The buyers are expecting further downfall and are staying away from the market,” said RM Palanisamy, an oil trader. The copra was sold at ₹6,500-6,700 a quintal.
The coconut price also came down to ₹15,000 a tonne against ₹19,000 a few days back. The price of palm oil remains flat at ₹4,650, but the palm kernel price edged up to ₹7,600. The oil traders expect the price of coconut oil will come down after Diwali.
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