MARKET DEVELOPMENT
In Kerala, Coconut Oil Loses Ground to Cheaper Alternatives
In Kerala, Coconut Oil Loses Ground to Cheaper Alternatives
20/08/2015 (Hindu Business Line) - Palm oil seems to have emerged as a preferred cooking medium among Kerala consumers, thanks to its low price and large supplies.
Besides this, the consumer preference for other edible oils such as sunflower, rice bran, etc has pushed back coconut oil from the leading position in the domestic market due to its higher prices in the recent period, Thalath Mahmood, Director, Cochin Oil Merchants Association (COMA) said.
Quoting figures, he said the consumption of palm oil in the State has gone up to three lakh tonnes followed by sunflower, rice bran, while coconut oil is hovering below two lakh tonnes.
According to him, there has been a shift in the consumer pattern because of high prices of coconut oil. Most of the edible oils are available in the market at a price in the range of ₹50-60 per kg, while coconut oil was sold at a retail price of ₹125.
Meanwhile, the coconut oil market is in a steady line with festival demand pushing up the prices, touching ₹11,700 a quintal in Kerala while it was ₹10,900 in Tamil Nadu. Copra prices also touched ₹8,000 a quintal in Kerala and in Tamil Nadu, the figure stood at ₹7,800.
Besides this, the consumer preference for other edible oils such as sunflower, rice bran, etc has pushed back coconut oil from the leading position in the domestic market due to its higher prices in the recent period, Thalath Mahmood, Director, Cochin Oil Merchants Association (COMA) said.
Quoting figures, he said the consumption of palm oil in the State has gone up to three lakh tonnes followed by sunflower, rice bran, while coconut oil is hovering below two lakh tonnes.
According to him, there has been a shift in the consumer pattern because of high prices of coconut oil. Most of the edible oils are available in the market at a price in the range of ₹50-60 per kg, while coconut oil was sold at a retail price of ₹125.
Meanwhile, the coconut oil market is in a steady line with festival demand pushing up the prices, touching ₹11,700 a quintal in Kerala while it was ₹10,900 in Tamil Nadu. Copra prices also touched ₹8,000 a quintal in Kerala and in Tamil Nadu, the figure stood at ₹7,800.