Latest news with #Kerafed
The Hindu
02-08-2025
- Business
- The Hindu
Agriculture Dept. exploring option to supply coconut oil at lower rates through Supplyco: Minister
With coconut oil prices going through the roof, the Agriculture Department is planning to supply it at lower rates through the Kerala State Civil Supplies Corporation (Supplyco) during Onam, Agriculture Minister P. Prasad said. The department, along with the Kerala State Co-operative Apex Federation of Coconut Farmers Ltd (Kerafed), which markets the Kera brand coconut oil, is exploring options to supply it at affordable rates to the weaker sections of the society during the upcoming festival season, Mr. Prasad said, addressing a press conference here. The Agriculture Department is in talks with Supplyco in this regard, he said. Kerafed has already kicked off measures for coconut procurement at ₹1 higher than the market rates from farmer, Mr. Prasad said. This will serve to ensure the adequate supply of good quality coconut oil in the State, he said. The government decided to step in with a procurement plan, given the need to prevent the sale of adulterated coconut oil in the current situation, the Minister said.
New Indian Express
25-07-2025
- Business
- New Indian Express
Coconut oil price skyrockets, crosses Rs 500 per litre
KOCHI: As Keralites start preparations for Onam celebrations, the rising prices of essentials, especially coconut and coconut oil, are worrying families. The price of coconut oil which hovered around Rs 160 per litre a year ago has crossed Rs 500, making it out of bounds for common man. Coconut oil has been deeply ingrained in the state's culture and traditions that it is an inevitable ingredient for its traditional cuisine. Meanwhile, the sale of other products like groundnut oil and palm oil has increased as coconut oil has become unaffordable. There are reports that adulterated coconut oil is flooding the market posing a health risk. Kerafed, the largest producer of coconut oil in the country has hiked the price of coconut oil to Rs 529 per litre while the price of many popular brands has crossed Rs 600. The price of coconut in the retail market ranges between Rs 75 to Rs 85 per kg. 'There will not be any scarcity of coconut oil during Onam season as we have maintained an average stock of 912.2 metric tonnes of copra from January to June,' said Kerafed managing director Saju Surendran. Farmers say they get an average price of Rs 62 per kg, which is a bumper price considering the fact that the procurement rate was just Rs 8 per kg a couple of years back. Though the steep rise in procurement rate has brought cheers, farmers are unable to reap the benefit as the production has declined to a fraction of the previous year yield. 'The coconut prices have gone up due to drop in production caused by drought in 2024. Now the production has started increasing thanks to copious rains in the previous months. The crisis is expected to end by December 2025 and the prices may decline thereafter,' said Dinesh a farmer in Palakkad. 'There has been a steep decline in coconut production which has affected our business. We have rescheduled the production to a single shift due to shortage of coconut. The company has not exported coconut oil for the past two months.
The Hindu
01-06-2025
- Business
- The Hindu
Nod for spending ₹11.20 crore on vegetable, coconut procurement under market intervention support scheme
The Agriculture department has given the nod for spending ₹11.20 crore on the procurement of vegetables and fruits and coconut. The decision is part of the market intervention programmes aimed at price stabilisation in the 2025-26 fiscal and also comes ahead of this year's Onam festival which falls in September. Of the ₹11.20 crore, the Kerala State Horticultural Products Development Corporation (Horticorp) will spend ₹8 crore on procurement of essential vegetables and fruits, while Kerafed, which is the apex co-operative federation of coconut farmers in the State, will spend ₹2 crore on coconut procurement, a May 31 order issued by the department said. The government has also earmarked ₹38 lakh for Marketfed towards the State's share for the procurement of coconut and ₹82.60 lakh for expenses related to the Kerala farm-fresh fruits and vegetables scheme. The annual plan of the State government has set aside a total ₹21.50 crore for market intervention programmes aimed at keeping prices stable in the market in the 2025-26 fiscal. The proposal to give administrative sanction for the above allocations was approved at a working group meeting held on May 19.
