06/10/2016 (Hindu Business Line) - “The price of the coconut oil which was sold at Rs. 1350 to Rs. 1360 for a quantity of fifteen kilogram loose pack at Kangeyam and Uthukuli were decreased on Wednesday and was sold at Rs. 1305 to Rs. 1320 for fifteen kilogram loose pack. Hitherto the coconut oil which was purchased by some traders at North India could not be transported through lorries via Bengalure, has started sending from today via Bengaluru”, said R.M.Palanisamy a trader.

He said that the demand for copra has increased in all places. It was sold at Rs. 6100 to Rs. 6200 a quintal in the district. The arrival of copra for sale is slowly increasing and today 185 tonnes of copra arrived for sale in Perundurai Cooperative marketing Society and all the copra were sold. The coconut oil crushers said that though the sale of coconut oil is very limited, the copra sale is high in all the places. This is due to the severe rain failure in Erode district especially in Lower Bhavani Project ayacut area.

He said number of coconut trees are started withering and certainly for want of rain the yield per tree will be low, when the demand for copra will increase and the price may go up. Expecting such situation many stockists have started storing the copra by procuring the same.

Few quantities of edible copra are sold for Rs. 7000 a quintal.

The demand for Palm Oil has increased on the eve of Deepavali festival. Many private sweet stall owners started preparing ‘Mixer and Murukku’ for Deepavali festival. Palm oil is much cheaper than Groundnut oil, so the sweet stall owners buying the palm oil.

The coconut oil traders feel that after Deepavali the price of the coconut oil may go up as the price of copra is increasing slowly.