Financial Daily from THE HINDU group of publications
Sunday, Jun 06, 2004
Financial Daily from THE HINDU group of publications Sunday, Jun 06, 2004 |
||
|
|
||
|
Agri-Biz & Commodities
-
Coffee Coffee powder prices up; further hike likely Our Bureau
Coimbatore , June 5 RETAIL traders have hiked the price of coffee powder by Rs 5 a kg. With this, the price of pure coffee powder has increased to Rs 140 a kg in rural centres, while it has touched Rs 150 a kg in Chennai city. Trade sources, when contacted, did not rule out the possibility of a further hike in the price levels if the present situation continued over the next two to three months. Retail traders state that the high rate of sales tax imposed by the Tamil Nadu Government was biting into their kitty. The industry has been requesting the State Government to slash the rate, at least on par with Karnataka (the procurement centre), instead of subjecting it to 12 per cent here. The rising power bill, steep rise of 15 to 20 per cent in the price of the raw coffee has had a cascading effect on their bottom line, forcing them to increase the price of pure coffee powder, a trader said. He alleged that some growers, in anticipation of a steady increase in the Brazilian price levels, were withholding their stock. The impact of the price hike, according to traders, was not felt very much, as the market for pure coffee is rather limited.
More Stories on : Coffee
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|