Kerala Coconut Oil Prices Down

The Kerala coconut oil market is facing a slowdown because the producing season is in full swing. Coconut oil prices vary between Rs 3,350 and Rs 3,400 per quintal. The volume of trading is also considerably low because the market is flooded with other edible oils, especially palmolein.

The average weekly trading in the Kochi market is around 100 quintal. The Kerala market is also affected due to aggressive selling by the National Agricultural Cooperative Marketing Federation (Nafed).

Recently, Nafed had sold about 300 tonnes of coconut oil in the market at one stroke, which affected the market severely.

The procurement operation has also not started in the state because Nafed wants to sell its old stock. The state government is also not taking any initiative to start its market intervention operation.

 

Even the festival season has failed to increase oil prices because of lack of demand. Traders expect an artificial increase in prices during this week due to procurement by traders, but not to a considerable extent.