India coffee slightly higher on selective buying

MUMBAI Fri Nov 12, 2010 7:20pm IST

MUMBAI Nov 12 (Reuters) - Indian Coffee Association's weekly auction on Thursday saw prices rising slightly on selective purchases by local buyers, auctioneers said on Friday.

The total quantity on offer at the auction was 263.28 tonnes, of which 94 tonnes were sold.

"Domestic trade was active on Arabica Cherry and Robusta Cherry coffees, while the Arabica Plantation and Robusta Parchment coffees received selective enquiry," said an auctioneer in Bangalore.

Arabica Plantation C grade price were higher by 700 rupees per 50 kg, while A & B grade on offer remained unsold.

Arabica Cherry coffees saw good demand from domestic trade, PB & C grade price were higher by 400 rupees to 490 rupees per 50 kg when, AB grade on offer remained unsold.

Robusta Parchment AA grade received enquiry from one of the leading roasters, but other grades received no enquiry.

Robusta Cherry coffees received strong support from domestic trade and prices were higher by 150 to 250 rupees per 50 kg.

A few lots of Arabica Plantation and Arabica Cherry BBB sold at current price levels, Robusta Parchment and Robusta Cherry BBB price were higher by 125 to 200 rupees per 50 kg.

"Domestic demand was good but there was not much interest from the exporters," said Ashok M.C. of Laxmi Venkateswara Coffee Agency at Chikmagalur, Karnataka, a major trading centre.

Following were the prices quoted for 50 kg bags in rupees.

Grade Price range NEW SEASON (2009/10) CROP

ARABICA PLANTATION

PB 9,600 - 9,800

C 8,500

BBB 4,500 - 5,600 ROBUSTA PARCHMENT

AA 4,800

BBB 4,000 - 4,075

ARABICA CHERRY

PB 7,400 - 7,450

AA 7,850

C 5,800

BBB 4,300

ROBUSTA CHERRY

PB 4,250 - 4,450

AB 4,300 - 4,600

AA 4,450

C 4,225 - 4,400

BBB 3,725 - 3,980

(Reporting by Sourav Mishra in MUMBAI and Kishore S.U. in BANGALORE)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

School Shooting

School Shooting

Two killed, four wounded in Washington state school shooting.  Full Article 

Sundar Pichai Elevated

Sundar Pichai Elevated

Google's Pichai to oversee major products and services.  Full Article 

Need For Reforms

Need For Reforms

Euro zone risks "relapse into recession" without structural reforms - Draghi.  Full Article 

Diwali Sales

Diwali Sales

Gold sales jump about 20 pct for Diwali - trade body  Full Article 

World Bank Rival

World Bank Rival

Three major nations absent as China launches W.Bank rival in Asia  Full Article 

Wal-Mart India

Wal-Mart India

Murali Lanka appointed as Wal-Mart India operations chief  Full Article 

Health Of Lenders

Health Of Lenders

25 European banks set to fail health checks - sources.  Full Article 

Special Report

Special Report

Why Madrid's poor fear Goldman Sachs and Blackstone  Full Article 

India Insight

India Insight

Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw”  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage