| Heavy rains in the last 10 days have partially hit the drying and processing of raw coconut which has, in turn, slowed down the supply of quality copra. |
| According to leading copra and coconut oil dealers, supply would pick up only by mid-April in Kerala and by the last week of April in Tamil Nadu and Andhra Pradesh. |
| The Cochin Oil Merchants Association's (COMA) quoted Rs 5,750 for a quintal of coconut oil on Thursday, up by Rs 50. Although COMA quoted Rs 3,810"�3,825 for a quintal of copra, the premium quality is available at a price tag above Rs 3,900. |
| The price of coconut oil plummeted to Rs 5,700 immediately after the announcement of the import duty cut and ban on exports. However, the market performed better later on account of the production shortage. |
| The price of palm oil is still more than coconut oil at Rs 6,200 a quintal in wholesale trade thanks to its increase in consumption for biofuel and rising prices in the international market. |
| The rise in palm oil prices helps boost demand for coconut oil as a cooking medium, especially in states like Kerala. This has resulted in a 30 per cent increase in consumer demand for coconut oil, according to leading traders in Kochi. |
| However, coconut farmers and the Coconut Development Board have appealed to the government to withdraw the ban on exports of coconut oil. The commerce ministry is seriously considering this raising the hopes of the farmer fraternity. |
| M J Kuriakose, president, COMA told Business Standard that exports of coconut oil are very meagre in volume and would, in any way, affect the domestic supply and the ban should be withdrawn. |
| Total export is less than one per cent of the production, which goes mainly to West Asia. "It will be a new marketing avenue for coconut oil as there are good orders from the Gulf region," he said. |
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