Copra price on upward trend

Copra prices are registering an upward trend in the Avalpoondurai Regulated Market in Erode district, trade sources said.

The fine variety was sold at Rs 38 to Rs 40 per kilogram in the auction on Friday.This is Rs 1.25 to Rs 2.25 per kilogram higher than the price last week.

Similarly, the second variety was sold at Rs 29.75 to Rs 37.65 per kilogram. This is also Rs 1.30 per kilogram higher than last week's price.

Heavy competition is seen in the buying of the commodity by the oil crushers.

Some 2604 quintal (5267 bags) was received for sale and the quantity was sold, compared to 660 quintal received on Monday, sources added.