Commodities

Copra declines marginally ascoconut oil price remains steady

Our Correspondent Erode | Updated on July 13, 2012 Published on July 13, 2012

copra

The price of both fine and second variety copra decreased in the Avalpoondurai Regulated Marketing Committee.

“Though all the 300 tonnes (6,000 bags) of copra that arrived were sold within five hours, we were not able to get an increased price. In fact, the prices decreased,” said Mr N. Krishnan of Modakurichi.

Coconut oil crushers said, “We need stock, but due to poor price for the coconut oil, we could not quote an increased price”.

Mr R.M. Palanisamy, a trader said, “The coconut oil price remains at Rs 885 for a 15 kg loose pack. The prices may not increase till the end of this month, as the coconut oil crushing industry is keeping huge stock of copra. Crushers procured huge stock in the months of April, May and June. We are expecting the coconut oil price to increase in August when the copra price will also go up”.

Mr Dhandapani, Superintendent of the Avalpoondurai Regulated Marketing Committee, said that on Friday 300 tonnes of copra were sold. The first grade was sold at Rs 39- 41.65 a kg, while the second grade fetched Rs 32-38 a kg. This is 15 paise less for a kg of first grade and Re 1 lower than last week’s price for the second grade. He said from April 2011 to March 2012 in the Avalpoondurai Regulated Marketing Committee alone, 6,025 tonnes of copra were auctioned and sold for Rs 55.50 crore. This is higher than the 2010-11 sales.

He said while September last year recorded sales of 1,515 tonnes, July recorded 1367 tonnes.. He said 1,490 tonnes of copra were sold in April, 1,343 tonnes in May and 1,883 tonnes in June. In the last three months alone, Rs 18 crore worth of copra were sold. The farmers benefited from the sales in the last three months.

Published on July 13, 2012
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