Buyers keep away from ICTA on high prices

Domestic buyers stayed away from the Indian Coffee Trade Association (ICTA) as the prices demanded by growers seemed too high for them.

According to auctioner Carritt Moran and Company, small volumes of new crop season 2006/07 crop were offered at the auction this week, but did not attract export enquiry as prices quoted were well above international levels.

Of the 224 tonne offered for sale (last week 240 tonne were offered for sale) 38 tonne were sold against last week's 35 tonne. Arabica comprised of 170 tonne against last week's 171 tonne, Robusta 54 tonne against last week's 69 tonne.

Following are the prices quoted for grades in Rs/50kg. Arabica varieties: (all season 2005-06) Arabica Parchment PB Rs 6,100 (quantity sold 125 kg), Arabica Parchment AA Rs 5,931 (1,040 kg), Arabica Parchment A Rs 5,695 (5,834 kg), Arabica Parchment BBB Rs 3,405 (2,405 kg), Arabica Cherry PB Rs 4,000 (2,750 kg), Arabica Cherry AA Rs 4,825 (1,000 kg).

Robusta varieties: Robusta Parchment BBB Rs 3,250 (1,800 kg), Robusta Cherry PB Rs 3425 ( 500 kg), Robusta Parchment AB Rs 3,500 (3,000 kg).