Prices of coconut oil skyrocket; now costs more than ₹4000 per tin in Gujarat

The price of coconut oil has touched new heights, with a 15 kg can now costing around ₹4,000 due to continuous price hikes in Gujarat. Coconut oil, already at high prices, has witnessed a significant increase recently.

The price of coconut oil has risen by ₹100 per 15 kg can, reaching ₹3,900-₹3,950  in the Saurashtra oil market. The price of coconut oil has increased by ₹750 per 15 kg can in last three months, with the average price for a quintal in India ranging from ₹26,000 to ₹29,000.

In Gujarat, coconut is grown on around 27,000 hectares of land, yielding approximately 25 crore coconuts annually. Meanwhile, states like Karnataka and Tamil Nadu produce around 1,200 crore coconuts each year, and Kerala produces around 550 crore, bringing the total coconut production in the country to approximately 2,200 crore coconuts per year.

The major factors contributing to the increase in coconut and coconut oil prices include the adverse impact of climate change on production and a surge in demand due to religious festivals in India. Notably, coconuts are widely used in religious ceremonies across the country.

The prices of tender coconuts have also risen alongside mature coconuts. In Tamil Nadu, where the majority of coconuts are grown, they are being sold for ₹60-₹70 each, and Gujarat is seeing similar high prices.