A bumper crop in Andhra Pradesh has resulted in a slump in prices of coconut and copra this season. Meanwhile, availability of cheaper varieties of edible oils has further pushed the prices down,as reported by market sources. The price of coconuts, which was ruling at Rs.3, 000 per thousand in February, has gone down to less than Rs.2, 000 at one point of time and is now ruling at Rs.2, 200 per thousand. Similarly, the price of copra has fallen to a level of Rs.2,100 per quintal this month from Rs.3,300 in February. Market sources say the price would have fallen further but for the intervention of Central and state govt. agencies like Nafed and Andhra Pradesh Oil Federation which started purchases from May and brought some stability to the prices. The sources said that the agencies intervened when several farmers and traders resorted to desperate selling at a throwaway price of Rs. 1.50 to Rs.1.75 per nut. Though they opened purchase centres in five places in east and west Godavari districts, the chief coconut belt in the state, and brought some stability to prices, the prices are still not remunerative either to farmers or to traders. |
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