Select copra drops on sluggish demand

Select copra prices dropped at the spices market here today due to reduced demand from stockists and retailers, amid improved arrivals from growing regions.

Meanwhile, black pepper gained marginally on fresh retail buying.

Copra Rajapur Mumbai plunged by Rs 200 per quintal to Rs 8,100 from Tuesday's closing level of Rs 8,300 and copra edible Mumbai fell by Rs 100 per quintal to Rs 7,700 as against Rs 7,800.

However, black pepper edged up by Rs 2 per kilo to Rs 235/249 from Rs 233/249 in the previous session.

Other spices closed unaltered in the absence of necessary buying activity.

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

Black pepper (per kg) 235/249 (233/249), ginger bleached (per kg) 220 (220), ginger unbleached (per kg) 240 (240), copra office Alapuzha (per quintal) 6,400 (6,400)

copra office Kozhikode (per quintal) 6,200 (6,250), copra Rajapur Mumbai (per quintal) 8,100 (8,300) and copra edible Mumbai (per quintal) 7,700 (7,800)