Friday, 30 November 2012 18:13
MUMBAI: Coffee prices in India continued to decline at this week's auction on lack of buying by exporters and on selective purchases by local traders, auctioneer J. Thomas & Co said in a statement on Friday.
Arabica plantation PB, and A grade prices fell by 100-150 per 50 kg as compared with the previous sale. Arabica Cherry C grade prices fell by 150 rupees per 50 kg as against the auction last week.
Robusta Parchment coffees received no support from buyers and a few lots of robusta cherry were sold at current price levels.
Coffee offered for auction at this time of the year is generally left over from the previous crop year and usually fetches lower prices due to inferior quality.
Coffee exports from India recovered 4 percent to 18,990 tonnes from October to Nov. 1, after falling 8.6 percent in the previous crop year.
In value terms, coffee exports rose $56.48 million from $53.49 million during the same period.
Copyright Reuters, 2012