Vadakara: The coconut sector is slowly recovering from the crash of prices witnessed in the previous years. After over two years, the price of green coconut has reached Rs 31.50 per kilogram. In some places, it is as high as Rs 32.50. This is just one and a half rupees less than the minimum support price. The price of copra is at Rs 10,250 per quintal, Rs 10,500 for good quality native copra. Currently, the support price for copra is Rs 11,160. 

For some time now, the price of green coconut was at Rs 25-28. The price crossed the Rs 30 mark early in January this year. The last time that this price was offered for green coconut was in December 2021. At that time, the price of copra was Rs 10,000. In January 2022, the price of copra plunged to Rs 9300 and then to Rs 7800 in October. In May 2023, the price of green coconut went as low as Rs 21 per kg.

Traders attribute the rise in prices to the decline in production. Vadakara Coconut company chairman E. Sasindran said that the supply of coconut has gone down. The situation is not agreeable for coconut farmers in the context of NAFED getting ready to auction off the stocked copra. However, the rising prices does offer a ray of hope to the farmers.

84,272 tons of copra has been procured from Tamil Nadu, Karnataka and Andhra Pradesh in 2023. A total of 97,272 tons of copra, including 13,000 tons stockpiled in 2022, will be auctioned off. NAFED carries out the sale in phases so as to not detrimentally affect the market. 

The World Bank Commodity Market Outlook (April 2023) said that it will be a promising year for the coconut market. It is estimated that the price of coconut oil will go up to 1300 dollars per ton this year. The price of other vegetable oils will also increase proportionately.