Copra rallies on heavy stockists offtake, tight supply

Copra prices across the spectrum of varieties surged ahead at the spices market here today due to frantic buying from stockists and bulk traders supported by strong demand from milling units.
Reduced arrivals from key producing regions coupled with robust domestic as well as export demand also bolstered copra prices, a trader said.
Meanwhile, black pepper and ginger witnessed a fall due to lack of buying support.
Copra Rajapur shot up by a whopping Rs 1,000 per quintal to Rs 17,000 from last Saturday's closing level of Rs 16,000.
Copra Alapuzha, copra Kozhikode and copra edible Mumbai spurted by Rs 500 per quintal each to Rs 11,000, Rs 10,500 and Rs 13,500 respectively, as compared with Rs 10,500, Rs 10,000 and Rs 13,000 previously.

However, black pepper, ginger bleached and unbleached all slipped by Rs 10 per kilo each to Rs 750/800, Rs 330 and Rs 350 from Rs 760/810, Rs 340 and Rs 360, respectively.
Following are today's closing rates in Rs with previous rates in brackets:
Black pepper (per kg) 750/800 (760/810), ginger bleached (per kg) 330 (340), ginger unbleached (per kg) 350 (360), copra office Alapuzha (per quintal) 11,000 (10,500), copra office Kozhikode (per quintal) 10,500 (10,000), copra Rajapur Mumbai (per quintal) 17,000 (16,000), Copra edible Mumbai (per quintal) 13,500 (13,000).