Price Tussle Mars Coffee Auctions

Over 70 per cent of coffee offerings at the Indian Coffee Traders Association (ICTA) auctions in the city were withdrawn this week with sellers and buyers conflicting over prices.

While exporters were piqued over the prices ruling higher than international prices, growers seemed to be bothered about the surge in benchmark April/May prices in the global market for Arabica grades.

As a result, like the previous week, the majority of the offerings were withdrawn despite new crop accounting for nearly 90 per cent.

While offtake of Arabicas increased from 31.07 per cent last week to 37.21 per cent this week, robusta sales dipped to 4.79 per cent from 8.18 per cent. As against 3.87 lakh kg of Arabicas offered, 1,44,198 kgs were sold.

Pepper prices rally: (Kochi) Black pepper prices rallied smartly during the week on renewed buying by domestic traders and fresh inquiries from exporters at the international commodity exchange for pepper here, dealers said. Arrivals, on the other hand, were restricted.

June contracts were quoted at a higher Rs 15,200 a quintal as against Rs 15,000 while May contracts jumped to Rs 15,600 from Rs 15,000. (PTI)

April was quoted at Rs 15,800 as against Rs 15,500. The March and February contracts closed at Rs 16,000 (Rs 15,475) and Rs 15,500 respectively last week.

In spot trading, garbled pepper prices closed at Rs 16,200 as against Rs 15,700 while ungarbled rates ended up at Rs 15,200 as against Rs 15,000. PTI

Rubber prices decline: (Kottayam): Natural rubber prices declined last week at the primary market here on restricted intervention by state agencies, dealers said.

RSS four grade declined to Rs 28 a kg from Rs 28.50 last week. At Kochi, the other major trading centre, the prices closed at the same level.

Lot rubber prices, too, dipped in line with the general trend. It closed at Rs 24.75 a kg as against Rs 25.25 last week. At Kochi, it ended down at Rs 24.50 as against Rs 25.