By the weekend it closed at 5560 gaining about Rs 100 a quintal. High trend in prices was because of holidays and local demand because of Vishu, said market sources. Upcountry demand was low.

According to a market expert, the high prices continuing during full season in Kerala is an indication of low production in the State. The Tamil Nadu season starting mid-April is likely to lessen the pressure on the market, he said.

According to trading circle sources, there is need for a market information system for the commodity. Various other agriculture commodity boards are actively providing market support for various activities but Coconut Development Board is taking the least interest in providing any aid tothe oil trade case.

The board has all the facilities to provide latest information, but there is no initiative, said the source.

The market information is helpful in contracting orders, said a market source. Little information is available about the new crop production and arrivals at major milling centres in the country, he said.

Various associations are competing for bagging the rights for conducting the futures trade in the commodity.

Organisations staking claim are Kochi-based Coconut Oil Merchants' Association, the association of coconut oil traders, the Indian Pepper and Spices Trade Association (Ipsta) and the Ipsta-controlled First commodity Clearing Corporation of India (FCCCI), which deals with the clearing operations of the International Commodity Exchange (ICE), the first and only international futures exchange for pepper in the world run by IPSTA here.