Kerala coconut oil hits ₹260 per kg ahead of Onam
India
Coconut oil is suddenly pricier in Kerala, hitting ₹260 per kg as Onam demand builds ahead of the festival.
Traders say some groups are hoarding copra (dried coconut) and driving up costs, but things are calming down now that big buyers have slowed their purchases and millers are starting to ease prices.
Better harvest eases Onam demand pressure
Onam traditionally means more coconut oil (think 10% to 20% more) for all those festive dishes and sweets.
Luckily, this year's harvest was better after last year's pest problems, so supply is smoother.
Experts think prices might tick up a bit during the festival rush, but thanks to healthy crops and steady supply lines, no wild spikes are expected, even with more festivals like Ganesh Chaturthi around the corner.