India coffee prices rise a tad on weak arrivals, global markets ; Indian coffee prices rose a tad last week on lower arrivals in the spot market and rising overseas market, traders said on Monday. Of the total 208,998 kgs on offer at the auction, 63,000 kgs were sold.
New season Arabica Plantation B grade coffee traded higher by 150 rupees at 11,900 rupees per 50 kg.
"Coffee prices are strong on rise in global market and weak arrivals. Production is also expected to be low," said S.B. Jain, a trader at Chikmagalur, Karnataka, a major trading centre.
The recent unseasonal rains in the coffee growing regions dented production and supply of coffee beans.
Arabica coffee futures on ICE closed at a 13-1/2-year high on Friday after technical signals pointed upwards. See [ID:nLDE70R1FF]
ICE March arabicas KCc1 soared 8.05 cents or 3.4 percent to close at $2.45 per lb, the highest settlement for the spot contract since June 1997.
Coffee exports from India rose 52 percent to 67,840 tonnes during the Oct-Dec period, spurred by shipments to Italy and Russia, data from the Coffee Board showed. [ID:nSGE70204D]
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