Copra prices increase in regulated market

Copra prices have risen by Rs two per kg for fine variety in Avalpoondurai regulated market in the district,one of the biggest copra markets in India, where more than Rs 50 crore worth copra is sold at auctions every year.

In the Friday auction, fine variety copra sold at Rs 33.85 to Rs 36.95 per kg, Rs 2.10 higher than last week's price. All 980 tonnes of fine variety were sold. Purchased by coconut oil crushers of Tuticorin,Kangeyam and also crushers from Kerala.

The second variety was sold at Rs 32.60 to Rs 35.15, which was also about Rs two higher than previous sale price. All 592 tonnes were sold and purchased in bulk by coconut oil crushers.

Officials said 13,837 tons of copra, worth Rs 53.46 crore were sold in 2008-09 and 17238 tons worth rs 51.10 crore were sold in 2009-10.

During the April-June period this year, 3,049 tons worth Rs 9.86 crore were sold. This year farmers expect the copra price to touch Rs 38 per kg, as the demand is high among the millers.