A secret auction for coconut-cum-copra was held at the regulated market at Vadipatti near here, which is functioning under Agricultural Marketing and Agri Business Department, on Tuesday.
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The auction was held under the chairmanship of Madurai Marketing Committee secretary V. Mercy Jeyarani, stated a press release.
A total of 66,621 coconuts were traded by 21 traders, benefitting 16 farmers at the auction. The highest bid for a coconut through the auction process was at ₹10.25 and the total trade value stood at ₹4.67 lakh.
Nine farmers benefited in the copra auction, in which seven traders participated. A total quantity of 481.5 kg was auctioned and the highest bid for one kg of copra stood at ₹85. The total trade value was ₹36,418.