Copra drops on fresh arrivals

Written by: Pti
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Mumbai, Feb 18 (PTI) Copra prices dropped further atthe spices market here today owing to sluggish demand fromstockists coupled with fresh arrivals.

Besides lower offtake from traders and millers withincreased arrivals from key growing regions is hitting marketand prices are likely to fall further in coming days, traderssaid.

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

Copra edible Mumbai also moved down by Rs 50 per quintalto Rs 7,850 from Rs 7,900 yesterday.

Meanwhile, other spices closed steady in the absence ofany worthwhile buying activity.

Following are today''s closing rates in Rs, with theprevious 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), copraoffice Kozhikode (per quintal) 6,700 (6,900), copra RajapurMumbai (per quintal) 8,400 (8,400) and copra edible Mumbai(per quintal) 7,850 (7,900).

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