Financial Daily from THE HINDU group of publications
Monday, Feb 24, 2003
Financial Daily from THE HINDU group of publications Monday, Feb 24, 2003 |
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Agri-Biz & Commodities
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Coffee Coffee powder prices up L.N. Revathy
COIMBATORE, Feb. 23 PURE coffee powder prices have risen by Rs 10 a kg during the last fortnight. Trade sources anticipate a further rise in the price levels in the coming weeks, expecting it to stabilise in the Rs 140-150 band. The rates had, in the last one year slipped more than thrice, each time by Rs 10 a kg to touch a low of Rs 70. Now, with the international rates looking up, traders had decided to increase the rate of pure coffee powder in the domestic market as well. Stating that this was only a temporary move, trade sources said they were not too sure as to how the market would react after April 2003 when the VAT (value-added tax) system would be in place. The sources, however, pointed out that the superior grade powder was presently quoting at Rs 80 a kg as against Rs 70, while the second quality powder could be procured at Rs 50 a kg. He pointed out that the arrivals from the estate had been good so far, and would be until the start of the monsoon, when curing may become difficult.
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