Coconut oil prices singe household budgets in Kerala
In addition, the demand for coconut is expected to rule high till December with festivals in northern India and the Sabarimala pilgrimage in Kerala.
Speaking to The Hindu, an officer at the Coconut Development Board (CDB) said there had been a big drop in coconut production in the country due to shrinking patronage for coconut cultivation and the adverse impact of climate change.
'Besides this, there was a glut in the market during the pandemic outbreak in 2020 and 2021, with sales and consumption of copra and coconut oil plummeting. However, as soon as the market reopened after the pandemic, the hoarded produce flooded the market, significantly lowering the price of copra and coconut oil, with coconut farmers taking a hit,' the officer said.
This was followed by a drop in coconut production in equatorial countries, including in India, due to climate change and the reluctance of farmers to take care of trees, lowering production and increasing the price for copra, coconut oil and allied products, the officer said.
Talath Mahamood, president, Cochin Oil Merchant's Association, said the rise in coconut oil prices had opened the window for adulterated coconut oil manufacturers to flood the market with spurious products. The alarming price rise had also upset the family budget of many. The retail coconut oil price was ₹460 a litre on Thursday, almost a 100% rise compared to ₹235 during the first of January 2025.
Although cooking oils such as palm oil (₹120/850 gm) and sunflower oil (₹150/litre) are available in the market, the majority of Malayalis prefer coconut oil for home cooking.
Mr. Mahamood said as an immediate measure to protect the industry, the Centre should urgently intervene and ban the export of coconut, copra, coconut oil, and allied products, at least for a brief period. Further, the restrictions imposed on the import of coconut and copra from countries such as Indonesia and the Philippines should be lifted, considering the precarious situation.
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