Lokmat News Network
Chhatrapati Sambhajinagar:
Coconut oil prices, which had witnessed a record surge over the past two years, have now started declining. A few months ago, prices had reached up to Rs 800 per litre. However, in the last 15 days, there has been a significant drop of Rs 113 per litre, bringing some relief to consumers.
Major coconut-producing states in India ; Kerala, Tamil Nadu and Karnataka have recorded high production this year. Kerala and Tamil Nadu are key centres for coconut oil manufacturing. The increase in production has boosted supply in the market, directly leading to a fall in prices.
Additionally, ongoing global conflicts have affected exports of coconut-based products to Gulf countries. Rising shipping costs have slowed exports, resulting in increased domestic stock and downward pressure on prices.
According to traders, after the sharp rise in coconut oil prices, many consumers shifted to cheaper edible oils instead of expensive coconut oil for hair use. This caused a significant drop in demand, contributing to the price decline.
Branded oil also cheaper
Branded coconut oil was earlier being sold at Rs 733 per litre. In the last 15 days, its price has fallen by Rs 113 and is now available at around Rs 620 per litre. While some grocery stores still have old stock at higher prices, new packaging reflects the reduced rates.
Some well-known companies have also introduced promotional offers, such as an additional 100 grams of oil free, to attract customers.
Coconut prices fall; copra remains stable
Coconut oil is produced from dried coconut (copra). Currently, copra prices remain stable at Rs 400–Rs 450 per kilogram. However, coconut prices have decreased by Rs 10 and are now available at Rs 20–Rs 25 per piece. Prices of both coconut and coconut oil may decline further in the coming month.
– Rinku Khatod, trader