Copra edible shoots up on tight supply, robust demand

Copra edible prices surged sharply at the spices market here today following heavy offtake from stockists and bulk consumers as well as upcountry buyers amid concerns over slowdown in supplies.
The increase in prices is primarily boosted by heavy speculative buying supported by lower output estimates due to production fall alongwith strong corporate demand for edible grade copra, a trader said.
Meanwhile, black pepper, ginger and copra Rajapur held at their overnight levels in the absence of any buying activity.
Copra office Alapuzha and copra office Kozhikode prices were unavailable due to closure of markets.
Copra edible Mumbai rallied by a massive Rs 1,000 per quintal to finish at Rs 12,000 from Monday's level of Rs 11,000.

Following are today's closing rates in Rs with previous rates in brackets:
Black pepper (per kg) 675/710 (675/710), ginger bleached (per kg) 300 (300), ginger unbleached (per kg) 315 (315), copra office Alapuzha (per quintal) closed (10,500), copra office Kozhikode (per quintal) closed (10,300), copra Rajapur Mumbai (per quintal) 14,000 (14,000), Copra edible Mumbai (per quintal) 12,000 (11,000).