Growers hold back stocks

Coffee growers mostly held back their offerings at the Indian Coffee Trade Association (ICTA) auction as there was a drop in global prices.

According to the auctioner Carritt Moran and Company, at the auction held on Thursday, a majority of grades was unsold as asking prices were at last week's level.

At today's auction of the 182 tonne offered for sale (last week 277 tonne) 42 tonne were sold (last week 79 tonne). Arabica comprised 109 tonne (last week 183 tonne), Robusta 73 tonne (last week 94 tonne).

Following are the prices quoted for grades in Rs/50kg. Arabica varieties: Arabica Parchment PB Rs 5400 (quantity sold 869 kg), Arabica Parchment AA Rs 5479 (876 kg), Arabica Parchment A (Tamil Nadu stored -2005/06) Rs 5665 (6613 kg), Arabica Parchment B Rs 5300 (2107 kg), Arabica Parchment BBB Rs 4176 (2364 kg), Arabica Cherry PB Rs 4450 (525 kg) and Arabica Cherry BBB Rs 3000 (6000 kg).

Robusta varieties: Robusta Cherry PB Rs 3094 (4458 kg) and Robusta Cherry BBB Rs 2725 (15,000 kg).