SAO PAULO: Brazil’s crop supply agency Conab sold 93 pct, or roughly 64,833 bags, of the arabica coffee from government stocks up for sale in an auction on Thursday.

Conab offered local coffee roasters and industry 69,833 bags of arabica coffee that is at least seven years old.

Traders said most of the coffee sold in the auctions is being bought up by local roasters for shipment to the North and Northeastern consumer markets in the country.

The government resumed auctioning off its strategic coffee stocks in recent weeks after local roasters complained they were having difficulties securing supplies.

Drought over the country’s robusta crop in Espirito Santo earlier this year tightened supplies of coffee that is typically sold on the local market.

Conab holds nearly 1.2 million 60-kg bags of arabica in warehouses around the coffee belt. Roasters have said they are using more low grade arabicas into their blends, replacing some robusta beans, which have been lingering around record prices for several months.—Reuters