Coconut Oil Prices Falls Down

7 May 2013
Kochi

Change in th prices of palm oil in International market have affected the coconut oil prices both in Kerala and Tamil Nadu. Coconut oil prices in Kerala are now ruling at Rs 61.50 per kg (Rs 63), whereas in Tamil Nadu the prices fell to Rs 58 per kg (Rs 60).

Prakash B. Rao, Vice-President, Cochin Oil Merchants Association (COMA) told that that the cheaper availability of palm oil and palm kernel oil, which is a close substitute of coconut oil being used for industrial purpose, has resulted in low demand from corporates and upcountry buyers.

He pointed out that majority of industrial buyers and even retail traders doing food and bakery business have shifted to palm oil, which is now cheaper than coconut oil. Palm oil prices are now trading at Rs 48 per kg, while palm kernel oil at Rs 51 per kg.

Source – http://www.thehindubusinessline.com/industry-and-economy/agri-biz/coconut-oil-prices-down-in-tn-kerala/article4691967.ece

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