Coffee prices in India eased at this week's auction tracking global cues, dealers said on Friday. On Thursday, Liffe September robusta coffee ended lower by $36 at $2,216 a tonne, after hitting $2,205 earlier in the session, the lowest level for the benchmark second month in almost five months.
Robusta parchment PB grade prices declined by 175 rupees per 50 kgs while AB and C grade prices were unchanged at the current. Arabica Plantation and Arabica Cherry variety of coffee remained unsold at this week's auction as sellers were demanding more than what buyers were ready to pay. The Karnataka Planters Association, a trade body, estimates post-harvest Arabica crop would not exceed 80,000 tonnes as adverse weather affected production. India is the world's fifth biggest producer but accounts for only 4.5 percent of the world's coffee and exports 70-80 percent of its output. Italy, Russia and Germany are the top three buyers of Indian coffee.
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