The arrivals of copra in Tiptur market, one of the biggest copra markets in India, stood at 3,028 quintals (7,043 bags) on Thursday.
Credit: iStock Photo
Tiptur (Tumakuru district): Copra price continued its record-breaking spree at Tiptur APMC market. On Thursday, ball copra price reached a new high of Rs 24,129 per quintal.
While the top quality copra sold for a maximum price of Rs 24,129, the average price was Rs 23,850 per quintal. The arrivals of copra in Tiptur market, one of the biggest copra markets in India, stood at 3,028 quintals (7,043 bags) on Thursday.
The upward trend in price is attributed to low supply and high demand, and the changes brought in the auction process.
In March, copra prices shot up to Rs 19,000, equalling the all-time high that was recorded in 2014-15. Since March, there has been an upward rally in copra prices in the Tiptur market.
On June 9, the copra price breached Rs 22,356. The following day, the copra price went past Rs 23,000 at the Arsikere market. The market sources say that the upward surge in prices will continue for the next few weeks.