Bangalore, July 2: Prices of almost all coffee varieties declined at the country's only coffee auction here yesterday on poor demand from exporters and selective buying by local dealers.The lukewarm response saw a heavy withdrawal of 80.51 per cent of the total offerings at the auctions, conducted by Indian coffee trade association (ICTA).
``Thursday's sale as anticipated witnessed poor demand with most exporters, having filled the requirements, staying subdued. Local dealers were selective at lower prices,'' auctioneers Karnataka Coffee Brokers Pvt Ltd said in a report.
Of the total offering of 1060 tonnes yesterday, only 206.6 tonnes were sold, the rest 853.7 tonnes being withdrawn.
Arabica parchment accounted for 48 tonnes of the total quantity sold, while 43 tonnes of arabica cherry, 55 tonnes of robusta parchment and 59 tonnes of robusta cherry were also sold.
At the auctions, while washed arabicas were quoted lower by Rs 2-4 a kg, cherries slid by Rs 2-3. Washed robustas were neglected androbusta cherry was quoted Rs 1-2 a kg lower than last auction prices.
During the auctions, arabica parchment peaberry prices slid to Rs 73.36 a kg against Rs 75.86 last week, while ``a'' grade prices dipped to Rs 82 a kg against Rs 82.72 last week. Other grades were also quoted in line with the general trend.
Arabica cherry peaberry was quoted at Rs 56.82 a kg against Rs 59.40 last week and ``ab'' was quoted at Rs 61.98 against Rs 62.66.
Robusta parchment peaberry declined to Rs 53.76 a kg against Rs 54.84 last week and other grades also witnessed similar trend.
Robusta cherry peaberry decreased to Rs 57.48 against Rs 58 last week, whilst other inferior grades also ruled weak.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.