Coconut oil prices on the boil as retail price soars to ₹410/litre
Coconut oil prices have surged to ₹410 per litre, rising ₹80 in a week, driven by declining copra production. Copra now costs ₹231/kg in Kerala and ₹227/kg in Tamil Nadu. According to COMA, the price hike has reduced demand by 10–20%, with consumers shifting to cheaper oils like palmolein and sunflower oil, priced at ₹130 and ₹150, respectively.
Coconut oil prices continue to boil with its retail prices reaching ₹410 per litre, up ₹80 in the past week.
Citing declining production of copra as a reason for prices to surge, Thalath Mahmood, president of Cochin Oil Merchant Association (COMA) told businesslinethat the surging price has hit local demand with a reported sales drop of 10-20 per cent. Consumers started looking for other cheaper options such as palmolein and sunflower oil with its prices ruling at ₹130 and ₹150, respectively. Kerala is the only State which uses coconut oil for cooking purposes.
Copra prices also moved northwards to touch ₹231 per kg in Kerala market, while the Tamil Nadu rates stood at ₹227.
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Source : The Hindu Business line
