ICTA coffee auction goes up due to domestic sales

The larger stocks of green coffee and absence of frost in Brazil had an impact on the weekly ICTA auction in Bangalore. Domestic dealers accounted for 80% of the limited sales, being active for off-grades and plantation peaberry, plantation A and robusta cherry. Exporters covered immediate requirements, especially of robusta parchment AB. With the overall bearish trend in world markets, exporters’ response was muted

ICTA spot for robusta cherry AB was marginally lower than the day’s close for the September contract for the same grade on Cofei.Whereas ICTA spot for plantation A was the same as previous.

A total of 155.235 tonnes of Arabicas was sold out of an offer of 764.164 tonnes. A total of only 105.715 tonnes of Arabicas was sold out of an offer of 622.837 tonnes. Some 41.591 tonnes of plantation A were sold for an average of Rs. 80 a kg (Rs 80.30 a kg in the previous ICTA auction of August 10).

Some 11.589 tonnes of plantation B were sold for an average of Rs.47.84 a kg (Rs.60.34 a kg). Some 10.164 tonnes of Cherry BBB were sold for an average of Rs.36.04 a kg (Rs. 36.96 a kg).

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