India coffee down on selective buying by exporters
Michael Chen
Senior Web Developer
Coffee prices in India declined at this week's auction on selective buying by exporters as well as local traders, auctioneer J Thomas & Co said in a statement on Friday.
" Arabica plantation, arabica cherry and robusta cherry coffees received no enquiry from the exporters while robusta parchment coffees continued to receive good support from the exporters," it said.
The prices of arabica planted PB fell by 115 rupees per 50 kg while that of A grade fell by 200 rupees per 50 kg at this week's auction held on Thursday, the statement said.
Out of the total 209,392 kg offered for sale around 64,000 kg were sold at the auction.
Indian coffee exports dropped 2 percent year-on-year to 196,496 tonnes in the first seven months of the coffee year that
started in October 2011.
The country is likely to produce 320,000 tonnes of coffee for the crop year to September, higher than the 302,000 tonnes produced a year ago, the board estimates.
Source: in.reuters.com/article/2012/07/27/markets-india-coffee-idINL4E8IR3I520120727
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