Financial Daily from THE HINDU group of publications
Friday, Jun 21, 2002
Financial Daily from THE HINDU group of publications Friday, Jun 21, 2002 |
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Agri-Biz & Commodities
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Coconut & Copra Upward trend in coconut oil, copra prices G.K. Nair
KOCHI, June 20 COCONUT oil and copra prices have shown an upward trend at the terminal market with oil price touching Rs 4,400 a quintal and copra Rs 3,000. Futures prices of coconut oil on Thursday were for July Rs 4,660, August Rs 4,840 and September Rs 5,000 a quintal. Short supply due to the lean season and lack of selling pressure were responsible for the rise, Mr N. Ananthan, Chief Executive of the Coconut oil and Copra Exchange, here told Business Line.He said futures trading in copra had begun on June 4 and since then the copra prices also showed an increase. Futures prices of copra were July Rs 3115, August 3,250 and September Rs 3,300 per quintal. There was no selling pressure from farmers, he said. Last year, on this day the prices of coconut oil and copra were Rs 3,000 and Rs 2,000 respectively per quintal. In January, copra prices stood at Rs 2,500 per quintal and then till March it dwindled between Rs 2,300 and Rs 2,400 and in April-May Rs 2,600-2,700. In the beginning of June the price was Rs 2,700-2,800 and after the commencement of futures in copra the prices moved.
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