Coffee prices increase on limited new season supplies

Written by Reuters | Mumbai | Updated: Mar 1 2009, 04:17am hrs
Prices at the India Coffee Associations Thursday auctions climbed higher as supplies of the new season crop were limited, traders said. The new season Arabica sold at a premium because there were limited quantities of Arabica plantation coffees on offer, said a trader based in Bangalore. Prices of the new season Arabica plantation grades rose by Rs 300-Rs 600 per 50 kg as compared to the last auction. However, Arabica cherry prices sold at last weeks levels, he said.

Robusta cherry grades did not sell as prices were higher than what buyers were willing to pay, traders said. Export enquiries even in this auction were limited and prices mainly went up on internal trade, the Bangalore trader added. In India, Arabica coffee arrivals started in November and will continue till February, while Robusta begins from mid-January and continues through April. The total quantity on offer at the auction was 241.77 tonne of which 59 tonne was sold, an auctioneer said.