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Hike in global coffee prices cheers Indian growers

Coffee prices have hit the upper circuit in the international market at a time when farmers in India are busy with the coffee harvest, hoping that the crop will fetch good prices for a second year running.

"Coffee supplies are likely to remain tight in 2010 as a result of low production and problems with the quality of coffee beans because of poor weather conditions during harvesting. Moreover, despite the global economic slump, coffee consumption has remained buoyant and would keep prices firm in future as well,” says Nestor Osorio, Executive Director of the International Coffee Organization.