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.
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.