Copra surges on heavy stockists demand, low supplies

Copra prices rallied at the spices market here today on emergence of strong demand from stockists and exporters coupled with short supply.

"Increased demand in both domestic as well as overseas market alongwith sharp fall in the supply of stocks is the main reasons from the spurt in copra prices," traders said.

Meanwhile, other spices closed stable in the absence of necessary buying support.

Copra Rajapur Mumbai hardened by Rs 200 per quintal to Rs 8,700 from last weekend's closing level of Rs 8,500.

Copra office Alapuza and copra office Kozhikode rose by Rs 100 per quintal each to Rs 5,800 and Rs 5,700 respectively, as against Rs 5,700 and Rs 5,600 last Saturday.

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

Black pepper (per kg) 233/247 (233/247), ginger bleached (per kg) 230 (230), ginger unbleached (per kg) 245 (245), copra office Alapuzha (per quintal) 5,800 (5,700), copra office Kozhikode (per quintal) 5,700 (5,600), copra Rajapur Mumbai (per quintal) 8,700 (8,500) and copra edible Mumbai (per quintal) 6,800 (6,800).