Supplyco to procure 5.5 million litres of coconut oil for Onam market

Kottayam: For fair value distribution of products to the public, Supplyco will procure 5.5 million litres of coconut oil. With an initial stock of 1.5 million litres already in place, Supplyco outlets will start selling two varieties of coconut oil at low prices from Monday.

Supplyco’s own brand, Shabari, will be available at ₹349 per litre, while Kera, produced by Kerafed, will be sold at ₹457 per litre. Currently, both brands together make up the 1.5 million litres in stock. An additional 4 million litres is expected to arrive within the next two weeks.

In the open market, coconut oil is currently priced at ₹529 per litre. Kerafed is supplying oil to Supplyco at wholesale rates, having already delivered 200,000 litres of Kera. Meanwhile, 1.3 million litres of Shabari oil have been sourced through Supplyco’s agencies.

As part of the preparation for the Onam market, the state government has allocated ₹150 crore to Supplyco, enabling the corporation to increase its rice stock as well. Supplyco has purchased 1,500 tonnes of rice from the Food Corporation of India (FCI). With additional supplies arriving from other states, more rice will be made available from August 18. Consumers will be able to buy 20 kg of rice at ₹25 per kg, a subsidised rate compared to the market price of ₹29 to ₹34 per kg. According to Minister GR Anil, talks are also being held with other states to guarantee further rice procurement.

With assured availability of essential goods, Supplyco’s sales have highly improved. The corporation’s daily turnover has risen from an average of ₹6 crore to ₹10 crore. By the end of this month, the monthly customer foot traffic, which is currently at about 3.5 million, is anticipated to reach 5 million.