KOCHI: The Coconut Development Board has written to the Union Commerce Minister making an appeal that the ban on export of coconut oil should be withdrawn.
A communication from the Board said here on Monday that India, being the third largest coconut producer in the world, had no big status in the international coconut oil market because of the price differences. Indian coconut oil prices ruled comparatively high and the commodity could not make an impact on the world market, the press release said.
However, over the last few months the price gap is shrinking and India has been exporting coconut oil to the Gulf market as well as to Bangladesh. It is important that these exports continue, said the press release.
The price of coconut oil now rules below Rs.60 and coconut production in the country has recorded significant improvement. There is sufficient stock of coconut oil for exports, the press release added.
The request for lifting the ban on coconut oil export was made by the Coconut Development Board under these circumstances.