Steady Coconut Prices in State

14 May 2013
Kochi

Coconut prices remained steady in Kerala and Tamil Nadu ruling at the same level as that of last week. In Kerala, the prices quoted at Rs 61.50 per kg whereas in Tamil Nadu it stood at the last week level of Rs Rs 58 per kg. Palm oil prices are now trading at Rs 48 per kg while palm kernel oil at Rs 51 per kg.

Prakash B.Rao, Vice President, Cochin Oil Merchants Association (COMA) said that majority of the buyers are not active in the market at this low level, which is expected to sustain in the next couple of days. There is no major inquiry even from corporate buyers.The cheaper availability of palm oil and palm kernel oil and the delay in copra procurement drive by Government agencies also contributed for sluggishness. There is a possibility that lower palm oil prices tend to put pressure on coconut oil prices and consumption may shift to lower priced oil, he said.

Thalath Mahamood, former President, Cochin Oil Merchants Association (COMA) said that the market is ruling in a steady line and witnessing a low demand. There is a need for a proper procurement drive for a further price rise in future, he said.

Source– http://www.thehindubusinessline.com/industry-and-economy/agri-biz/coconut-oil-prices-ruling-steady-in-kerala-tn/article4714162.ece

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