Copra prices flare up on surging demand, tight supply

Copra prices across the spectrum of varieties shot up at the spices market here today following heavy buying by stockists and retail consumers as well as strong offtake from milling units.
Robust upcountry demand and speculative buying by local traders on the back of low arrivals, mainly boosted sentiment in the spices market, a trader commented.
Moreover, traders have started stocking copra in bulk quantities on expectations of poor yield, further fueling the rally.
Copra edible Mumbai soared by a massive Rs 1,350 per quinal to Rs 12,600 from Wednday's closing level of Rs 11,250 and copra Rajapur Mumbai shot up by Rs 800 per quintal to Rs 17,300 as against Rs 16,500 previously.

Copra office Alapuzha and copra office Kozhikode both rose by Rs 100 per quintal to Rs 10,800 and Rs 10,700 respectively.
While, black pepper and ginger prices continued to rule steady in the absence of any worthwhile buying.
Following are today's closing rates in Rs with previous rates in brackets:
Black pepper (per kg) 770/815 (770/815), ginger bleached (per kg) 350 (350), ginger unbleached (per kg) 370 (370, copra office Alapuzha (per quintal) 10,800 (10,700), copra office Kozhikode (per quintal) 10,700 (10,600), copra Rajapur Mumbai (per quintal) 17,300 (16,500), Copra edible Mumbai (per quintal) 12,600 (11,250).