MARKET DEVELOPMENT
Coconut Oil Loses Floor to Other Cheaper Alternatives; Copra Dips
Coconut Oil Loses Floor to Other Cheaper Alternatives; Copra Dips
07/05/2015 (Hindu Business Line) - Copra prices decreased this week on slack demand.
“One of the leading firms quoted lower price as the demand for the edible copra is almost nil. Further they also quoted lower price for the local copra which has reflected in all markets.
On Wednesday, the copra was sold at ₹8,700-8,900 a quintal, which is ₹1,000 less than last week’s price. The sale of copra was also very poor,” said RM Palanisamy, a trader.
He also said the price of the coconut oil has come down to ₹1,820-1,920 for a 15-kg loose pack.
“This price is certainly low when compared to last week’s price. For such a decreased price the sale was very poor.”
Oil crushers said that demand for the palm kernel and palm oil were very high.
Local consumers have switched over to Sunflower and palm oils as these are cheaper than coconut oil.
Copra farmers stopped procuring coconut as they are having ample stock of unsold copra with them.
“One of the leading firms quoted lower price as the demand for the edible copra is almost nil. Further they also quoted lower price for the local copra which has reflected in all markets.
On Wednesday, the copra was sold at ₹8,700-8,900 a quintal, which is ₹1,000 less than last week’s price. The sale of copra was also very poor,” said RM Palanisamy, a trader.
He also said the price of the coconut oil has come down to ₹1,820-1,920 for a 15-kg loose pack.
“This price is certainly low when compared to last week’s price. For such a decreased price the sale was very poor.”
Oil crushers said that demand for the palm kernel and palm oil were very high.
Local consumers have switched over to Sunflower and palm oils as these are cheaper than coconut oil.
Copra farmers stopped procuring coconut as they are having ample stock of unsold copra with them.