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Kochi, April 17:
Coconut oil prices ruled steady in Kerala markets the last week due to increased corporate buying. It ruled at Rs 66 a kg, the same as last week.
Mr Prakash B. Rao, Vice-President, Coconut Oil Merchants Association (COMA), told Business Line that the market was steady as corporate demand shifted from edible oils such as palm kernel and palm oil to coconut oil.
Earlier, corporates opted for these edible oils that are close substitutes of coconut oil. Due to lower prices, they have now shown interest in buying coconut oil. As long as prices of other edible oils stayed firm, chances of a dip in coconut oil prices remain dim, he said.
Bulk buying by corporates in the Tamil Nadu market has affected coconut oil arrivals in Kerala. The prices of coconut oil in Tamil Nadu ruled at Rs 64 a kg this week.
http://www.thehindubusinessline.com/markets/commodities/article3324614.ece
Coconut oil prices ruled steady in Kerala markets the last week due to increased corporate buying. It ruled at Rs 66 a kg, the same as last week.
Mr Prakash B. Rao, Vice-President, Coconut Oil Merchants Association (COMA), told Business Line that the market was steady as corporate demand shifted from edible oils such as palm kernel and palm oil to coconut oil.
Earlier, corporates opted for these edible oils that are close substitutes of coconut oil. Due to lower prices, they have now shown interest in buying coconut oil. As long as prices of other edible oils stayed firm, chances of a dip in coconut oil prices remain dim, he said.
Bulk buying by corporates in the Tamil Nadu market has affected coconut oil arrivals in Kerala. The prices of coconut oil in Tamil Nadu ruled at Rs 64 a kg this week.
http://www.thehindubusinessline.com/markets/commodities/article3324614.ece