Monday, 07 January 2013 11:44
MUMBAI: Coffee prices in India rose marginally at last week's auction on buying by local traders though a lack of demand from exporters capped the gain, auctioneer J. Thomas & Co said in a statement.
"There was better enquiry from the domestic trade than seen in the previous sale date. Exporters were not active," the statement said.
Robusta parchment coffee on offer did not receive any query while robusta cherry remained unsold at the auction.
The 2012/13 crop arabica plantation B grade coffee from the southern state of Tamil Nadu rose by 100 rupees per 50 kgs, the statement said.
Out of the total 236,881 kg offered for the sale, around 98,000 kg were sold.
India's state-run Coffee Board has cut the country's coffee output estimate to 315,500 tonnes for the crop year to September 2013, down 3 percent from an earlier projection.
Center>Copyright Reuters, 2013