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India coffee up on buying by local traders
September 17, 2012 / 1:06 PM / 5 years ago

India coffee up on buying by local traders

MUMBAI, Sept 17 (Reuters) - Coffee prices in India rose at
last week's auction held on Thursday on buying by local traders,
while most exporters stayed away from the market, auctioneer J
Thomas & Co. said in a statement.
    Arabica plantation B and C grade prices rose by 200 - 650
rupees per 50 kg as compared with the previous auction, the
statement said.
    Out of the total 239,468 kg offered for sale, around 30,000
kg were sold, it added.
    Coffee prices in global markets have been falling on
expectations of higher supplies from top producing Brazil,
traders said. 
    Indian coffee exports fell 6.88 percent on year to 306,238 
tonnes in the 11 months of the coffee year that started in
October, the state-run Coffee Board said in a
     India, the world's fifth-biggest producer, accounts for 4.5
percent of the world's output, and exports 70-80 percent of its
produce. Italy, Russia and Germany are the top three buyers of 
Indian coffee.   
     GRADE                                     PRICES           
     Season (2011-12)                                         
     PB                      10,400
     AA                      10,750
     B                       10,150
     C                        9,300
     BBB                      7,700
     ARABICA CHERRY          
     PB                      9,250           
     ROBUSTA CHERRY         
     PB                     7,550  -  7,790 
     AB                     7,795  -  8,050     
     AA                     7,950   
     C                      7,600   
     BBB                    7,335    

 (Reporting by Deepak Sharma; Editing by Anupama Dwivedi)

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