Speculation pushes up coconut oil

Our Correspondent. Erode | Updated on July 09, 2014

The price of coconut oil has increased suddenly.

“The price of coconut oil fell to ₹1,970 for 15-kg loose packs on Tuesday and suddenly rose to ₹2,050 on Wednesday morning; touched ₹2,100 in the afternoon. Only 20 tonnes were sold at this price,” said RM Palanisamy, an oil trader.

On Wednesday, copra was sold at ₹9,300 a quintal as against ₹10,200 during the last week. The decline in price was due to the quality. In Perundurai Cooperative Marketing Society more than 120 tonnes of copra was sold for ₹9,200 a quintal. Most of the quantities are bought by Kerala crushers.

Palm oil is selling at ₹5,790 a quintal and the palm kernel at ₹9,200.

Published on July 09, 2014

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