07/12/2013 (Hindu Business Line) - Prices of coconut oil, currently ruling at Rs 102 a litre, are likely to decrease.

“Though the price decreased by Rs 6 a litre or Rs 90 for 15 kg loose pack, buyers are reluctant.

“Coconut oil crushers are having ample stocks.

“Buyers feel the price may decrease in a fortnight, so they are not buying,”, said R.M. Palanisamy, a leading coconut oil dealer.

He said alternative oils such as palm oil and palm kernel are also decreasing.

Palm oil is selling at Rs 58-60/litre in the wholesale market.

The biscuit industry and others are buying palm oil.

Copra prices at the Avalpoondurai Regulated Market Committee increased on Friday, but arrivals were lower.

Three days ago, at a special auction, 1,200 quintals arrived for sale, but on Friday, only 725 quintals arrived.

On Friday, the first grade copra was sold at Rs 7,025-7,365; the second grade was sold at Rs 5,425-6,835.

Oil crushers from allover Tamilnadu attended the sale.

No Kerala oil crushers attended the auction sale