Rising coconut and copra prices continue to be a concern for coconut oil companies. As coconut oil prices scale new peaks every day, many companies are trying to bring out blended oil to survive in the market. Branded coconut oil prices have doubled to Rs 230-235/kg from last year with shortage of coconuts continuing in the main producing states of Kerala and Tamil Nadu. Insufficient rainfall last year has brought down output.
As the ongoing Sabarimala temple pilgrimage season in South India is likely to raise the demand for coconuts, coconut oil companies expect retail prices to touch Rs 250/kg in the coming weeks.
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