Kochi: The Kerala government on Monday promised that the price of coconut oil would be brought down during the upcoming Onam festival season. Minister for Industries P Rajeev and Minister for Food and Civil Supplies G R Anil made the promise after a meeting with over 60 coconut oil merchants in the state in Kochi.

The government turned to the merchants as part of its efforts to rein in the skyrocketing price of coconut oil in the state. At the meeting, the traders were encouraged to participate in the ongoing bidding for the supply of branded coconut oil to the Supplyco (The Kerala State Civil Supplies Corporation) for retail through its outlets. 

"We have promised that payments will be made to those who win the bidding in 15 days," Minister Anil said. Minister Rajeev exuded confidence that once the price of coconut oil sold through Supplyco comes down, it will have a positive impact on the prices in the common market also.

Rajeev said that the traders who attended the meeting were of the view that the coconut oil price should be controlled. "We are exploring ways to bring down the price while ensuring farmers get due profit," he said. Rajeev ruled out the possibility of importing coconut oil from other markets, saying it would have long-term consequences. 

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