Coconut oil prices have crashed to its lowest level in the current year despite copra procurement. By March 2001, coconut oil and copra will become freely importable and price realisations for farmers will depend on global price trends. Coconut oil prices touched Rs.6,000/quintal in August 1999 which was the highest price during that year. Up to December the prices stayed above Rs. 5,400/quintal. However, following the onset of the peak season the prices of coconut oil fell to Rs. 4,000 and stayed at this level throughout February. Prices fell once again to Rs. 3,600/quintal range and remained at this level for the next two months. On May 15 the price has further declined to Rs.3,150 as compared to Rs. 5,100/quintal achieved during the same period of the previous year. |
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