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Coconut oil prices go north mirroring global trend
February 08, 2021
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With the coconut harvest season having started, industry players feel the rise in prices is due to hoarding
Coconut oil became dearer by ₹10 per kg last fortnight apparently reflecting the global trend of rising edible oil prices.
Traders are keeping their fingers crossed as the price hovering in the range of ₹230-240 per kg in the retail market has led to about 30 per cent shift in consumer preference to cheaper edible oils. Retail priced of edible oils, such as palm oil and sunflower oil, range between ₹130 -160 per kg. The rising price of coconut oil has slowed down institutional buying, especially in the HoReCa segment. They are also concerned of the rampant adulteration following the price hike.