| Date: |
05-02-2011 |
| Subject: |
India Coffee Prices Rise On Export, Local Demand |
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India coffee prices rose slightly at this week's Thursday auction supported by export and local demand, auctioneers said on Friday.
Arabica Plantation grades were higher by 400-600 rupees per 50 kgs on week.
"Arabica Plantation coffees continued to receive support from the exporters as well as from the domestic trade," said J. Thomas and Co said in a report.
Coffee exports from India rose 49 percent to 87,913 tonnes in Oct-Jan, on abundant availability of the old crop, and lower prices, data from the Coffee Board showed.
The Coffee Board had raised its production estimates for the new coffee year to 299,000 tonnes, up from the previous estimate of 289,600 tonnes.
India, the world's fifth biggest producer, accounts for only 4.5 percent of the world's coffee, but exports 70-80 percent of its output. Italy, Russia and Germany are the top three buyers of Indian coffee.
Source : reuters.com
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