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Coffee:
The Indian Coffee Trade Association (I.C.T.A) was established at Bangalore
in February 1993 to conduct coffee auctions. J. Thomas & Co. Pvt. Ltd., a member of
the I.C.T. A has been auctioning coffee from the very first sale held
in april 1993, currently auctions are held every thursday at the premises of Indian Coffee
Board in Bangalore, all varieties of cured coffee (Green Beans) are offered for sale in
our catalogue brought out each week. Coffee producers process and store their coffee in
curing works. Samples are drawn by the auctioneers and displayed at the auctions.
Auctioneers charge the seller a fee of 1% as selling commission. Export as well as local
buyers bid for the coffees on offer as per the quality of the samples displayed. Each lot
is knocked down to the highest bidder if the price meets the auctioneer's approval. Coffee
is sold in the auctions per 50 kgs. Prices are based on the New York and London coffee
futures exchange rates for Arabica and Robusta Coffees respectively. |
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