Copra drops on fresh arrivals

Copra prices dropped further at the spices market here today owing to sluggish demand from stockists coupled with fresh arrivals. 

Besides lower offtake from traders and millers with increased arrivals from key growing regions is hitting market and prices are likely to fall further in coming days, traders said.

Copra office Kozhikode plunged by Rs 200 per quintal to Rs 6,700 from Thursday's closing level of Rs 6,900 and copra office Alapuzha declined by Rs 100 per quintal to Rs 6,900 as against Rs 7,000 previously. 

Copra edible Mumbai also moved down by Rs 50 per quintal to Rs 7,850 from Rs 7,900 yesterday. Meanwhile, other spices closed steady in the absence of any worthwhile buying activity.

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

Black pepper (per kg) 248/265 (248/265), ginger bleached (per kg) 165 (165), ginger unbleached (per kg) 195 (195), copra office Alapuzha (per quintal) 6,900 (7,000)

copra office Kozhikode (per quintal) 6,700 (6,900), copra Rajapur Mumbai (per quintal) 8,400 (8,400) and copra edible Mumbai (per quintal) 7,850 (7,900)