Sunday, August 28, 2005
Coffee bean prices in Indonesia Rising
JAKARTA: Indonesian coffee exporters may be scrabbling to fill ships as farmers hold back stocks in the hope that a weakening rupiah will lift domestic prices, a senior industry official said on Friday.
Coffee bean prices in Indonesia, the world’s third-largest producer of robustas after Vietnam and Brazil, have risen by more than a fifth in recent weeks, to about 8,500 rupiah ($0.77) a kg from 7,000, said Rachim Kartabrata, executive secretary at the Association of Indonesian Coffee Exporters. Kartabrata said domestic prices could rise further as the rupiah, which has declined 6 percent this month, hit a fresh 3-1/2-year low of 10,460 to a dollar on Friday. Read full article
Coffee bean prices in Indonesia, the world’s third-largest producer of robustas after Vietnam and Brazil, have risen by more than a fifth in recent weeks, to about 8,500 rupiah ($0.77) a kg from 7,000, said Rachim Kartabrata, executive secretary at the Association of Indonesian Coffee Exporters. Kartabrata said domestic prices could rise further as the rupiah, which has declined 6 percent this month, hit a fresh 3-1/2-year low of 10,460 to a dollar on Friday. Read full article
