ARASIKERE (Hassan): Coconut prices are skyrocketing in the region, with rates rising from around ₹10,000 per quintal a few weeks ago to ₹17,008 within just 15 days. Market experts predict that prices could reach ₹20,000 per quintal by Diwali.
Coconuts from this taluk are shipped to several North Indian states, including Maharashtra, Gujarat, Delhi, Uttar Pradesh, and Rajasthan. The current price surge is attributed to increased demand due to the upcoming Dasara and Diwali festivals.
Recent price trends show a steady increase:
- September 3: ₹12,121 per quintal
- September 20: ₹15,601 per quintal
- September 24: ₹17,008 per quintal
This price hike has brought cheer to farmers who had previously been struggling due to low rates.
APMC officials stated, “Farmers are bringing coconuts to the market as prices rise. Rates are provided to farmers every Friday and Tuesday based on auctions. We’re ensuring direct payment to farmers’ bank accounts, eliminating middlemen.”
A decade ago, coconut prices had reached a record high of ₹19,800 to ₹19,900 per quintal. However, prices dropped to ₹7,700-₹7,800 by July 2023. At that time, the government intervened through NAFED, offering ₹13,500 per quintal (₹12,000 from the central government and ₹1,500 incentive from the state government). Current private market rates have now surpassed even the government-supported price.
Farmers explained, “Coconut yield increases 1-2 years after good rainfall. It takes time for a coconut palm to progress from flowering to mature coconuts. Last year’s drought in the district has resulted in lower yields this year.”
The significant price increase is providing much-needed relief to coconut farmers, who have faced challenges in recent years due to weather conditions and market fluctuations.
Read More : Thousands of Vehicles Stranded as Bengaluru-Mangaluru National Highway Turns Muddy
