Date:04/09/2006 URL: http://www.thehindubusinessline.com/2006/09/04/stories/2006090400920500.htm

Back Copra prices stay below MSP

G.K. Nair

Kochi , Sept. 3

Copra prices continued to rule low at around Rs 3,300 a quintal as a result of low coconut oil prices in the major markets.

At the Kochi terminal market, copra FAQ was sold on Saturday at previous day's level of Rs 3,350 a quintal while un-graded was being sold at Rs 3,265 a quintal.

In Alapuzha, edible copra fetched Rs 3,300 a quintal while ordinary copra was being sold at Rs 3,250 a quintal.

Coconut oil prices both at Kochi and Alapuzha ruled steady at Rs 4,975 a quintal.

Low demand

Drop in demand has pushed down the prices of coconut oil, which in turn has reduced the prices of copra.

In fact, for over a year now, the prices of copra have been ruling far below the Government's minimum support price (MSP) of Rs 3,590 a quintal (The open market prices have been fluctuating between Rs 3,000 and Rs 3,300).

No procurement has so far been undertaken by any Government agencies, market sources told Business Line.