We’ve always known the value of the mighty coconut (naturally), but now it seems the free market has cottoned on as well.
The price of coconuts has risen in Penang, due to the incoming Thaipusam celebrations and the recent flood season.
Bernama reports that the island is experiencing a drop in supply of coconuts from plantations in Sitiawan and Kuala Bernam in neighbouring Perak, forcing retailers to procure additional stock from Kelantan. However, the flood situation in both Perak and Kelantan is causing the coconut shipments to arrive slowly, if at all.
The impending Thaipusam festival is also making the scarce supply of coconuts to even more acutely felt. One Penang wholesaler, P Sarasvathy, said he could not meet his quota of 150,000 coconuts in stock last year in time for Thaipusam, only managing to have 30,000 this year.
Hindus ritually break coconuts during Thaipusam as a mark of fulfilling their spiritual vows.
Coconuts, which usually go for RM1.60 per fruit, is now retailing at between RM1.90 to RM2 per fruit in Penang, with prices expected to rise to as high as RM2.50 as Thaipusam rolls around.
The shortage is estimated to last all the way up until April.
In related news, Coconuts KL and our sister Coconuts sites around the region remain free of charge, all year round. So at least there’s that?
Reader Interactions