Fluctuating coconut prices 'grate' on farmers' nerves

COCONUT farmers, who rode on a massive spurt in prices over the last few months, have hit a roadblock; a sudden price fluctuation hit the market, forcing some farmers to stockpile coconuts they harvested in recent days.

- M SARAVANAN @Coimbatore

Farmers have alleged that a few big companies engaged in coconut oil trade, along with local traders, have brought down the procurement price artificially by forming a syndicate. They claimed that the traders got the price reduced by ₹18 per kg from ₹70 to ₹52, on August 8. However, the farm gate procurement price subsequently rose to ₹64 as of August 15.