News

Coconut oil prices drop in India

Other Fresh Coconut
Other Coconut Oil
India
Published Jun 7, 2022

Tridge summary

At a time when edible oil prices have been soaring, coconut oil producers are sceptical of a price rally, at least in the short term. Several industry sources, including officials from the Coconut Development Board, have explained that there will be surplus production in the growing regions this year due to favourable meteorological conditions in the previous two harvest seasons. They anticipate a good harvest this year, putting further downward pressure on pricing.

Original content

In both Kerala and Tamil Nadu markets, copra pricing has declined by Rs 10-12 per kg in the last week, and are currently at Rs82 per kg. At the same time, due to excess production and the availability of copra at lower costs, coconut oil prices have fallen to Rs 140 in Kerala and Rs123 in Tamil Nadu. Farmers are in a dilemma due to the drop in copra and raw coconut prices, as there are no buyers for their product. Raw nut costs have dropped from Rs28 to Rs24 per kg in less than a month. Previously, Tamil Nadu purchased raw nuts from Kerala, but they were forced to stop due to excess production there. According to Hindu BusinessLine, Thalath Mahmood, director of the Cochin Oil Merchants’ Association (COMA), said that the market has been on a downward trend for a long time, with no help from local purchasers. He believes that the National Agricultural Cooperation Marketing Federation (NAFED) should purchase copra from the open market rather than from farmers, as this would benefit ...
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.