Prices of arabica coffee have jumped by about 20 per cent, while those of robusta have gone up by 6 per cent over the last one month on account of the rise in international prices. | |
| The price of arabica cherry (raw) has gone up from Rs 1,900 to Rs 2,300 for a 50 kg bag, while the arabica parchment (raw) price has gone up from Rs 4,200 to Rs 4,600 for a 50 kg bag. |
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| The rise in arabica prices has brought a marginal rise in prices of robusta cherry (raw) from Rs 1,600 to Rs 1,700 for a 50 kg bag and robusta parchment (raw) from Rs 2,900 to Rs 3,100. |
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| There is anticipation that the crop output for 2007 in Brazil may decline and this is driving up the international prices, said Selvam, director of Ramesh Exports. |
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| There is a possibility of arabica prices moving up further. Robusta could also see a marginal rise, as buyers are likely to turn to it, owing to high arabica prices, he said. |
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| "The domestic coffee prices closely follow the international prices. With the possibility of a decline in Brazil's production, the prices of arabica coffee will see a rise," said a source from Carritt Moran and Company. |
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| The International Coffee Organisation (ICO) has forecast a 2 per cent rise in global coffee consumption to 7 million tonne. |
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| Brazil, the world's biggest coffee producer, is unlikely to repeat its bumper crop in 2007 because trees usually rest after a big harvest. In 2003, a 38 per cent drop in output followed the record crop of 53.6 million bags in 2002. |
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| According to the ICO, the price of Brazilian natural arabica has gone up from 99.23 cents per lb in November to 117.49 cents on December 5. |
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| The price of Columbian mild arabica has moved from 112.67 cents per lb to 131.76 cents in the same period. |
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