Corporate Results of over 2500 companies Monday, November 22, 1999
fesub.gif (4328 bytes)
Full Story
fe.gif (834 bytes) flnews.gif (5153 bytes)
Search FE
-
Download
BSE Quotes
NSE Quotes
-
Think Tank
This week we focus on a complete analysis of the
internet industry
-
 

Domestic coffee sales dip, but prices firm 

 
Bangalore, Nov 21: Sales volumes in Indian coffee dipped as good quality stocks remained scarce toward the end of the season, traders said on Thursday.

But prices were firm or higher compared with last week's levels following persistent upward pressure on global prices, they said.

"Volumes are low as it is the fag end of the year and good quality coffee is not available," one trader said.

"But prices continued to rise under the impact of international pulls as speculation on the Brazilian crop continues," he added.

Coffee growers said Brazil's 2000/01 crop had been badly damaged by a lack of rain since September, sending world prices soaring.

A market report from the Indian Coffee Trade Association (ICTA) said the sale drew interest from exporters as well as domestic buyers.

"Washed arabicas were much sought after by locals and traded at four to five rupees higher than last week, while cherries and robustas held firm," the report said.

"The first lot of the new season washed arabica coffee onoffer sold at premium levels."

An official at leading brokerage Karnataka Coffee Brokers said new crop coffee accounted for about 1.5 tonnes of the total 211.43 tonnes of coffee sold. "We do not know where the international prices will settle," the official said. "We are all waiting for the USDA (the US Department of Agriculture) report on the extent of damage to Brazil's crop due to the drought."

ICTA said 211.43 tonnes of the offered 661.80 tonnes of coffee was sold compared with 272.94 of 588.72 tonnes last week.

Arabica sales decreased to 148.63 tonnes of the offered 304.83 tonnes, against 179.74 of 343.53 tonnes last week. Robustas too saw lower sales of 62.81 tonnes of the offered 356.97 tonnes, against 93.20 of 245.20 tonnes last week.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.

- Lead Stories | Corporate | Infrastructure | Commodities | Economy/Finance | BSE Today | NSE/ Markets | Strategy | Convergence | After Hours top.gif (150 bytes)Top
flame.jpg (1068 bytes) © Copyright 1999: Indian Express Newspaper(Bombay) Ltd. All rights reserved throughout the world.
This entire edition is compiled in Mumbai by The Indian Express Online Media Limited, a division of
The Indian Express Group of Newspapers. Managed by The Indian Express Online Media Limited and hosted by CerfNet.