Agri Business

Copra price improves: Huge stock of coconut oil piles up with producers

Our Correspondent Erode | Updated on May 25, 2020 Published on May 25, 2020

After two months time, the copra auction was started at Aval Poondurai and Elumathur. Erode district is noted for copra production and the buyers of copra from other districts mainly from Kangeyam area in Tirupur district will buy the same, product coconut oil, despatch to all over India. For the past two month no copra auction sale was conducted and only few farmers sold the copra to a private firm and also to very few coconut oil crushers.

Three days back the copra sale was conducted at Aval Poondurai Regulated Marketing Committee. Only 550 bags was arrived. The first grade copra was sold at ₹9,500-9,900 a quintal. Second grand copra was sold from ₹5,335-9,200 a quintal. All the arrived copra was sold. The traders said the present price is higher than the previous sale price.

Thangamuthu a trader said that the farmers are having huge stock of copra with them and are willing to sell the same. At present the demand from Northern States for coconut oil is very poor and so many crushers have stopped the production. He said that they are expecting that the demand may receive from North India by next month when the sale of copra may go up and also many farmers willing sell all their copra for increased price.

The auction sale at Perundurai Regulated Marketing Committee was scheduled to be conducted on last Saturday, but postponed. The sale of copra was conducted on Monday at Elumathur Regulated Marketing Committee, but the arrival was low.

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Published on May 25, 2020

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