Copra prices decreased in Erode markets on heavy arrival this week.
“In Perundurai alone, 170 tonnes of copra were procured by a crusher as prices declined. Last week copra was sold at ₹10,300-500against the current price of ₹10,000 a quintal. The edible copra which ruled at ₹13,000 is now selling at ₹11,000 a quintal. Consequent to the decrease in copra price, coconut oil prices also declined,” said RM Palanisamy, a coconut oil dealer.
He said the coconut oil, which was sold at ₹2,270-2,300 for 15-kg loose pack , has declined to ₹2,180.
Copra farmers said that within a month coconut will arrive from Mysore in Erode markets, and copra prices may decrease further. So, oil crushers are quoting lower price.