Coconut oil prices skyrocket in India: What's the reason
Coconut oil just got seriously expensive—prices have jumped from around ₹160 to over ₹500 per liter over the past year, making it the most costly edible oil in India right now.
This spike happened even though India is a top coconut producer, thanks to droughts in Indonesia and the Philippines that messed with coconut crops.
Indonesia and Philippines are major producers
Global supply took a hit after Indonesia restricted exports and the Philippines started using more coconut oil for fuel.
Copra (dried coconut) prices shot up by nearly 50%, forcing big brands like Parachute to raise their rates by about 30%.
In Kerala, some bottles are selling for over ₹600—and there have even been reports of coconut thefts as demand soars.
Local businesses are feeling the heat
Coconut oil is only about 1.5% of all edible oils used in India, mostly down south, but these price hikes are hitting local businesses hard.
Caterers and small shops are cutting back on coconuts, and industry groups want the government to allow imports to help cool things off and keep quality up.