Coconut oil price skyrockets in state; 1 kg costs Rs 205.50
Mattancherry: The price of coconut oil in Kerala has hit an all-time high. On Friday, the rate increased by Rs 350 for a quintal in Kochi and was priced at Rs 205.50 per kilogram.
In 2020, the highest price was Rs 155.50 per kg. For the past 10 years, the highest price was recorded in December 2017 at Rs 165.50 per kg.
However, in the first week of February 2021, the coconut oil price surged past Rs 200 and later on increased gradually touching Rs 205.50.
The price of branded packaged coconut oil is also going north. Most of the branded coconut oil companies are importing the product from Tamil Nadu also where the price is on the increase.
The price of legally approved blended coconut oil is also soaring high. Blended coconut oil is prepared mixing pure coconut oil with other oils.
Meantime, the cost of palm oil and sunflower oil are also increasing.
As relaxations were approved on the guidelines with regard to storing cargo, copra is collected and stored in huge amount resulting in high price, said coconut oil trader and former president of the Cochin Oil Merchants Association, Thalath Muhammad.