Spike in the price of coconut

IPOH: "there is a spike in the price of coconuts is assumption on the part of the traders" said Datuk Tajuddin Abdul Rahman.

The Deputy Minister of Agriculture and Agro based Industries said the prices are hovering between RM7 and RM8 per kilogramme.

"Naturally the demand for such commodity will go up during festive season and the prices is based on market forces. We have allowed importers to bring in more coconuts for the festive season," he told reporters here yesterday.

Tajuddin also noted the dwindling number of coconut trees due to the lower price in the past had also affected the supply.

Farmers felled the trees then and planted with palm oil but now coconuts fetch a good price in market.

Malaysia imports the commodity from Indonesia and Philippines.

According to the traders, price of milk will hike up but price of grated coconut will remain the same as it is a controlled item.

Some traders said the demand for milk and grated coconut will see a jump of five times of between 500kg and 700kg per day.

This article originally appeared at: http://www.thesundaily.my/news/2017/06/18/spike-price-coconut