Dry Coconut: Ball Copra price raise due to festival demand.
August 31, 2017 at 7:31 AM ,
Rainbow Exports
Ball copra (Coconut) rises on festival demand:
Bengaluru, Prices of edible copra (Dry Coconut), better known as ball copra, have risen over the past two months on strong festive season demand, mainly from buyers in the North. Besides, the purchases by raw-material-starved oil millers in Tamilnadu, have also supported the firming trend in prices, said by traders in Karnataka. Benchmark prices in Tritur, the largest market for ball copra, which ruled between US$1080 to 1250 per mt. at the beginning of July this year, have now moved up to US$1950 to 2050 per mt. levels, an increase over 50 per cent over the past two months. When compared with the modal prices in January, ball copra has doubled over the past eight months. Modal prices of ball copra ruled at around US$860 per mt. in early January, while it was hovering around US$1780 per mt. at August-end. The firming trend in prices is seen impacting the market arrivals.
“Farmers are seen holding back their produce, anticipating a further increase in prices,” said by one of big trader in Tirtur. He also said that “We are hopeful that prices will stay at these levels on good buying interest from North India and from millers in Tamil Nadu and Kerala,”
China factor: Easing tensions with China may boost prices
A section of the trade feels the increased buying interest from China, witnessed early this year, has also contributed to the firming trend in prices. The stand-off between India and China over the border dispute had slowed down the movement of copra to the neighboring country over the past two months. However, with the easing of border tensions, we expect demand from China to pick up going ahead, said by another trader and exporter. He also said estimates is around 180-200 containers of copra have been shipped to China this year. Volumes are up by around 40 per cent this year, he adds. Exports of copra to China are mainly routed through Vietnam and through the ports of Chennai and Kochi.
Ball copra is produced in and around Tirtur, mainly in districts such as Tumkur, Hassan and Chitradurga. For a farmer, it takes a minimum of 11 months to produce ball copra. Farmers dry the mature coconuts for at least 11 months during which process the water in the nut gets dried naturally, lending unique sweet taste to copra. The dried nut is de-husked and de-shelled to obtain copra, which is ball shape. Hence, it is called ball copra. A commission agent in Tirtur, said the prices could firm up further, if the border issue with China is resolved. The prevailing prices, if they remain constant, are seen profitable by farmers to an extent. The firming trend in prices is seen providing some relief to growers, who have been battling consecutive droughts for the past three years, which has impacted yields of the Coconut Growers Association.
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