Coconut oil price jumps above Rs 200 per kg due to shortage of copra

08-Nov-2024 10:46 AM

Kochi. Due to shortage of milling copra in major producing areas, the price of coconut oil has been rising and strengthening since the time of Onam festival. Due to this, the producers are getting attractive income. The price of coconut oil has reached above Rs 200 per kg.

According to trade analysts, the price of coconut oil was recorded at Rs 196 per kg in the Muhurat trading on the day of Deepavali and even after that, the atmosphere of rise in it remained. As a result, its price rose to a high of Rs 203 per kg on November 6. Obviously, in the meantime, the price of copra also jumped to Rs 132 per kg in Kerala. On the other hand, the price of coconut oil was recorded at Rs 183 per kg and the price of copra at Rs 135 per kg in Tamil Nadu.

The President of Cochin Oil Merchants Association (COMA) says that since Onam, there has been an atmosphere of ups and downs in the prices of copra and coconut oil and this trend is likely to continue till mid-January. After that the season of arrival of new goods will start and then the market price will start coming under pressure. Earlier, the price of coconut oil had reached a peak of Rs 204 per kg in the 2017-18 season and Rs 209 per kg in the 2021-22 season. According to an analyst, the demand and consumption of coconut and copra is increasing globally as alternative products, but the supply and availability are not increasing accordingly. Due to climate change and drought-like conditions, there is a possibility of a decline of about 50 percent in the production rate of coconut.