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India coffee down on global cues
August 21, 2012 / 9:38 AM / 5 years ago

India coffee down on global cues

MUMBAI, Aug 21 (Reuters) - Indian coffee prices fell at last
week's auction as exporters stayed away following a sharp drop
in prices in the overseas markets, auctioneer J. Thomas & Co.
said in a statement.
    Arabica coffee futures on ICE fell for the eighth straight
day, closing at an eight-week low on Friday, as dealers eyed
large supplies in the pipeline.
    "Due to the steep fall in the international coffee price,
all varieties of coffees on offer met with less enquiry from the
domestic trade. There was no enquiry from the exporters," said
the statement.
    Out of the total 186,700 kg offered for sale, only 41,000
kgs were sold, it added.
    Indian coffee exports fell 6.76 percent on year to 285,555
tonnes in the first ten months of the coffee year that started
in October, the state-run Coffee Board said in a statement on
Aug. 1. 
    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)                                      
     AA                     11,050         
     B                      10,000  -  10,150
     C                       9,335    
     ROBUSTA PARCHMENT            
     BBB                     6,800
     ARABICA CHERRY       
     BBB                     6,850 
     PB                    7,400  -  7,750    
     AB                    7,600  
     AA                    7,700  -  8,300  
     C                     7,100  -  7,650    
     BBB                   6,600  

 (Reporting by Deepak Sharma; Editing by Jijo Jacob)

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