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As coconut production falls, oil sees steep rise in price; experts for imports
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Thursday, 29 May, 2025, 08 : 00 AM [IST]
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Ashwani Maindola, New Delhi
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The prices of edible coconut oil have witnessed a steep rise in recent times and traders expect the price to further rise in coming months.
Shankar Thakkar, national president of All India Edible Oil Traders Federation, has informed that the price rise was witnessed mainly due to the decrease in coconut production, impacting the prices of raw materials, especially copra and in the last one year, its prices have increased by 30 to 40 per cent.
“From organised sector to the unorganised, everyone has increased the prices. Branded companies increased the prices of coconut oil by 30%, because the prices of copra have jumped by 40-50%. Now the prices are expected to stabilise but in an unexpected event, there may be a rise again,” said Thakkar.
Not only in India, but coconut oil prices are at record high levels all over the world. According to a report, the wholesale price of coconut oil from the Philippines crossed $2,700 per metric ton in the Rotterdam Edible Oil Market this month, which is about 200% higher than the 2000-2020 USD average.
The main reason for the price rise is bad weather in Southeast Asia, which affected coconut production.
At present, prices are stable but conditions like bad weather, global demand or supply crisis can increase prices again. The FMCG sector is expected to grow well this financial year, but coconut oil may remain expensive for consumers for some time, if corrective measures were not taken in time.
Thakkar further said that in view of the religious festival season (in next few months), the demand for coconut will increase, due to which prices may rise further, so the government should allow imports for some time to control the prices so that the prices remain under control.
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