Comments
With coconut oil prices fluctuating over the last three weeks, its sales have been affected..
“Because of such fluctuation in price, sale of the coconut oil has been affected. A few days ago, coconut oil prices ruled at ₹2,370 for a 15-kg loose pack but then decreased to ₹2,180 Currenty, they are ruling at ₹2,250-2,280. Only a few are purchasing the oil. A limited number of loads was sold on Thursday,” said a trader in Kangeyam.
He said that till Diwali, buyers from Maharashtra and northern States will not place orders and hoped for orders only on Diwali day. In Maharashtra the factories at Malkapur, Akola and Jabkhan have started crushing huge quantities of copra purchased from Sri Lanka and Karnataka. North Indian buyers have started buying coconut oil from these factories.
Meanwhile, copra prices have increased in Erode to ₹10,750-₹10,850 a quintal as demand has increased. On Thursday, 400 tonnes were sold.
Many users of coconut oil are shifting to sunflower oil and palm oil. The price of sunflower oil has increased to ₹640 for a 10-kg pack as a result and the palm oil is being sold at ₹522. Biscuit firms are buying palm kernel for their products. Edible copra price also increased to ₹12,200 a quintal. Many traders in North India are also buying edible copra from Karnataka, affecting the sale here.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.