MUMBAI Nov 12 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
PB 9,600 - 9,800
BBB 4,500 - 5,600 ROBUSTA PARCHMENT
BBB 4,000 - 4,075
PB 7,400 - 7,450
PB 4,250 - 4,450
AB 4,300 - 4,600
C 4,225 - 4,400
BBB 3,725 - 3,980
(Reporting by Sourav Mishra in MUMBAI and Kishore S.U. in BANGALORE)
Trending On Reuters
In a rare interview India's former PM Manmohan Singh criticised his successor Narendra Modi's government for failing to take advantage of lower commodity prices to propel economic growth and an inconsistent policy towards neighbour Pakistan. Full Article