At Thursday’s Coffee Association of India’s auction at bangalore,exporters stayed away from bidding due to weak domestic and export demand for coffee.
One of the other reasons being the upward swing of rupee against the dollar, which reduces the earnings of exporter as the international coffee trade is dominated by dollar.
Only 39 tonnes out of the 238.12 on auction got sold.
Arabica A & B were sold 50 to 100 rupees lower than the previous auction.
At Thursday’s Coffee Association of India’s auction at bangalore, exporters stayed away from bidding due to weak domestic and international demand for coffee.
One of the other reasons for the low interest from exporters was the upward swing of rupee against the dollar, which reduces the earnings of exporter as the international coffee trade is dominated by dollar.
Only 39 tonnes out of the 238.12 on auction got sold.
Arabica A & B were sold 50 to 100 rupees lower than the previous auction.