MARKET DEVELOPMENT
Copra Prices May Rise on Short Supply
Copra Prices May Rise on Short Supply
23/11/2013 (Business Recorder) - Coconut oil prices improved on the back of limited copra stocks with farmers.
“The price of coconut oil touched Rs 1,620 for 15 kg loose pack on Friday. But buyers are hesitating as prices of palm oil and palm kernel are selling at Rs 70/kg, ” said R.M. Palanisamy, a coconut oil dealer.
He said that in the international market many people prefer palm kernel. Coconut oil price may go up further affecting sales.
He said that in the private market, copra is available at Rs 80/kg, whereas it is sold at Rs 75 in the Regulated Market Committee.
At the Avalpoondurai Regulated Market Committee, the first grade copra was sold at Rs 7,025-7,655 a quintal and the second grade at Rs 5,600-7,265. All the 75 tonnes of copra that arrived got sold.
Copra farmers said that some are holding bare minimum copra stockand are getting a higher price.
They also said that copra prices will go up further next week.
“The price of coconut oil touched Rs 1,620 for 15 kg loose pack on Friday. But buyers are hesitating as prices of palm oil and palm kernel are selling at Rs 70/kg, ” said R.M. Palanisamy, a coconut oil dealer.
He said that in the international market many people prefer palm kernel. Coconut oil price may go up further affecting sales.
He said that in the private market, copra is available at Rs 80/kg, whereas it is sold at Rs 75 in the Regulated Market Committee.
At the Avalpoondurai Regulated Market Committee, the first grade copra was sold at Rs 7,025-7,655 a quintal and the second grade at Rs 5,600-7,265. All the 75 tonnes of copra that arrived got sold.
Copra farmers said that some are holding bare minimum copra stockand are getting a higher price.
They also said that copra prices will go up further next week.