Copra Alapuzha and Kozhikode plummet as demand fades

Copra Alapuzha and copra Kozhikode prices took a hit at the spices market here today due to absence of demand on the back of heavy import of palm kernel oil. 

'Besides sluggish demand, millers opted for palm kernel oil which is near substitute for coconut oil and it is cheaper,' traders said.

Elsewhere, copra edible also dropped further on subdued demand from stockists and retailers. 

Copra office Alapuzha and copra office Kozhikode both plunged by Rs 500 per quintal each to Rs 5,500 and Rs 5,300 respectively as compared to Tuesday's closing level of Rs 6,000 and Rs 5,800.   

Copra edible Mumbai fell by Rs 100 per quintal to Rs 7,300 from Rs 7,400 previously. Meanwhile, rest all other spices continued rule stable in the absence of market-moving factors. 

Following are today's closing rates in Rs with the previous rates in brackets:  

Black pepper (per kg) 280/305 (280/305), ginger bleached (per kg) 150 (150), ginger unbleached (per kg) 180 (180), copra office Alapuzha (per quintal) 5,500 (6,000)

copra office Kozhikode (per quintal) 5,300 (5,800), copra Rajapur Mumbai (per quintal) 9,000 (9,000) and copra edible Mumbai (per quintal) 7,300 (7,400)