Copra prices soar on heavy stockists demand, low supply

Copra prices shot up at the spices market here today following heavy demand from stockists and bulk consumers amidst supply constraints.
An acute shortage of copra due to production fall in the midst of drought-like situation in Kerala, the largest producing region of coconuts in the country as well as robust export demand is driving prices higher, a trader commented.
Meanwhile, black pepper and ginger maintained a steady trend in the absence of any worthwhile buying activity.
Copra Rajapur Mumbai surged by Rs 500 per quintal to Rs 14,500 from overnight closing level of Rs 14,000 and copra edible Mumbai spurted by Rs 200 per quintal to Rs 11,200 as compared to Rs 11,000.

Copra office Alapuzha and copra office Kozhikode both rose by Rs 100 per quintal to Rs 9,500 and Rs 9,400 as against previous closing level of Rs 9,400 and Rs 9,300, respectively.
Following are today's closing rates in Rs with previous rates in brackets:
Black pepper (per kg) 580/625 (580/625), ginger bleached (per kg) 285 (285), ginger unbleached (per kg) 300 (300), copra office Alapuzha (per quintal) 9,500 (9,400), copra office Kozhikode (per quintal) 9,400 (9,300), copra Rajapur Mumbai (per quintal) 14,500 (14,000), Copra edible Mumbai (per quintal) 11,200 (11,000).