Copra prices ruled lower at the Avalpoondurai Regulated Marketing Committee auctions on Friday on huge arrivals. Copra fetched between Rs 34 and Rs 35.85 a kg.

According to Mr Dhandapani, superintendent of the marketing committee, copra arrivals increased to 5,600 bags or 280 tonnes. Due to such a huge inflow, buyers from Kerala, Tuticorin and other areas involved in manufacturing coconut oil quoted lower price. In the auction held last weekend, 260 tonnes copra from Erode, Dharmapuri, Krishnagiri, Salem and Vellore districts were brought to the RMC and all were sold. Copra fetched a maximum of Rs 38 a kg.

Mr Karupanna Gounder, a 75-year-old grower from of Arachalure area, said that current prices are not feasible for farmers. He said that now the farmers are selling copra after much hesitation. They were selling only since they feared that prices may fall further. He said that in February, copra fetched Rs 72 a kg and now prices have dropped sharply within three months. He said that farmers had adequate stocks of copra with them.

Farmers said that last year, the Centre had fixed Rs 51 a kg as the minimum support price for copra, but no one was prepared to buy at that price. So, Government agencies started buying, leading to drop in arrivals at arrival to the Avalpoondurai RMC. This pushed up prices.

However, this year procurement by TANFED and NAFED has stopped.Arrivals, on the other hand, have increased to 5,000-odd bags.

Mr Dhandapani said that last year, over 20,000 tonnes of copra arrived for sale at the Avalpoonduari RMC. This year, more than 25,000 tonnes of copra are expected at this centre.

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