Coconut oil prices have registered a sharp fall in the past few weeks much to the dismay of the coconut growers. The reason behind this is stated as the remunerative prices for coconut growers depend even now on the price of coconut oil, and rise in consumption of palmolein oil, and now a days the production is high the consumption of coconut oil for edible purpose is low. Though the govt. has notified higher copra procurement prices the steady decline in coconut oil prices still continues. Throughout last year, coconut oil prices were ruling at relatively higher levels of Rs. 55 to Rs. 65 per kg. It is reported that in January 2000, the price stood at Rs. 5,400 per quintal for coconut oil at Rs. 3,600 per quintal for copra. From this level, it has now come down to Rs. 3,025 per quintal for coconut oil and to Rs. 2,100 per quintal for copra by July 5. As against this, the support price for copra was fixed at Rs. 3,250 per quintal. On the other hand, at present the open market price of copra is at around Rs. 2,100 per quintal which is Rs. 1,150 less that the support price levels. The open market price of coconut oil is presently Rs. 225 less than the support price level of copra as market source reports. |
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