Coffee prices in India fell for the second straight week as exporters stayed on the sidelines after prices fell in the overseas markets, auctioneer J. Thomas & Co said in a statement on Friday. Benchmark October raw sugar futures dropped 0.35 cent, or 1.8 percent, on Thursday to close at 19.59 cents per lb, the lowest since June 5.
Out of the total 181,710 kg offered for sale, only 38,000 kg were sold, it added. Coffee prices in global market have been falling on expectations of higher supplies from top producing Brazil, traders said. Indian coffee exports fell 6.76 percent on year to 285,555 tonnes in the first 10 months of the coffee year that started in October, the state-run Coffee Board said in a statement on August 1.