Coconut oil prices zoomed to a new high of ₹2,300 for 15-kg loose pack.
“This high price is due to manipulation and it serves no purpose to traders, agriculturists and also crushers. This hike will not last for long and prices will come down sharply soon,” said RM Palanisamy, a trader.
He further said that palm oil and palm kernel are selling at ₹62 and ₹70/kg respectively, and are being patronised by many biscuit firms and other dealers. In Kerala, too, many people have shifted to using palm oil for cooking. Meanwhile, copra farmers have raised their price to ₹11,000 a quintal. Many farmers made further order for coconuts from Kerala and Karnataka, as they are not having stock of copra with them.
Published on April 9, 2014
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