Supply crunch: Coconut rates double, hit Rs 45-50 per piece

Panaji: The price of coconuts has seen a sharp rise across Goa this summer, with the nut, which is also a common kitchen staple for Goans, selling at nearly twice the usual price. The retail rates are currently reaching Rs 45 to Rs 50 per piece.

In the wholesale market, the nut is being sold at around Rs 40 per piece. The tender coconuts are selling for Rs 60 per piece.

Vendors across local markets have attributed the spike in prices to a shortage in supply from Maharashtra and Karnataka for the mature nuts, while the same fate has befallen the tender coconuts sourced locally. They say this shortage is due to lower yields and increased demand during the summer season. Some retailers, as a result, are even selling mature coconuts for Rs 50 per piece in retail, citing transport costs and reduced availability.

“The supply from our usual suppliers dropped, and the demand went up due to the heat. Coconut water is in high demand, so prices are naturally rising,” said a vendor in the Panaji market.

Consumers, particularly those who rely on coconuts as a daily kitchen essential, find themselves in distress due to the skyrocketing prices. “Coconuts are a staple in Goan households, both for culinary and religious purposes, and also serve as a popular natural coolant during the summer. The rates need to be stabilised, especially at a time like this when the summer season is at its peak,” said Sharvari Naik, a consumer.

Vendors indicate that prices may remain elevated until supply stabilises or until the onset of the monsoon brings some relief. “We expect the prices to go back to Rs 25-30 per piece by June-July,” said another vendor.