NEW DELHI: India’s coffee exports have declined by 2.85 per cent to 1,72,480 tonnes so far in the 2013 calendar year due to weak global prices, according to the Coffee Board.
The country had exported 1,77,555 tonnes in the same period of January-June last year.
“Coffee exports have come down slightly as global prices were less attractive,” a senior Coffee Board official said.
While international prices have been falling for much of the year, global supplies have exceeded demand. Since last month, prices have further come under pressure as farmers in Brazil are harvesting new coffee crop even as they have not finished selling last year’s supplies, the official explained.
The export realisation was down at Rs 1,47,555 per tonne between January and June first week of this calendar year, as against Rs 1,46,991 per tonne in the same period last year.
In terms of value, total coffee exports were down at Rs 2,545 crore as against Rs 2,609 crore in the review period.
As per the Coffee Board data, the shipment of robusta coffee bean fell marginally to 93,213 tonnes till first week of June 2013, as against 98,863 tonnes in the year-ago period.
Similarly, the export of arabica coffee declined to 35,560 tonnes from 36,843 tonnes in the review period.
However, the country re-exported 32,701 tonnes of coffee in the said period, higher than 26,558 tonnes a year ago.
India largely exports coffee to Italy, Germany and Russia. Besides coffee bean, the country also exports instant coffee.
The Board has pegged coffee production at 3,15,500 tonne in the 2012-13 crop year (October-September), a marginal increase of 1,500 tonne over the final estimate of 314,000 tonne in 2011-12.
Source: [via]
