Coffee exports from India surged over 15% to 62,956 tonnes during during the first two month of the year buoyed by strong global prices, according to the Coffee Board.
Shipments stood at 54,679 tonnes in the corresponding period of 2013.
“Coffee exports have risen on account of improved price trend in the international market,” a senior Coffee Board official told PTI.
In value terms also, coffee exports increased to Rs 937.13 crore (US$151.615 million) in the first two months of this year, against Rs 824.35 crore in the year-ago period.
Maximum exports were to Italy (17,205 tonnes), followed by Germany (7,513 tonnes), Belgium (3,709 tonnes), Jordan (3,189 tonnes), Turkey (3,053 tonnes) and Russia (2,576 tonnes) in the same period, as per the Board’s latest data.
According to experts, global coffee prices rose to the highest level in February, fuelled by fears over falling production in top producer Brazil.
On February 20, Arabica jumped to 177.50 US cents per pound, the highest level since October 2012 while Robusta touched a ten-month peak of $2,019, they added.
Of total coffee exports from India, the shipments of Arabica rose by 35.11 per cent to 19,856 tonnes from 14,696 tonnes in the year-ago period, while Robusta exports improved marginally by 7.2% to 27,382 tonnes from 25,542 tonnes.
Instant coffee shipments more than doubled to 10,902 tonnes during the January-February period of 2014, from 3,918 tonnes in the year-ago period, the data showed.
However, re-exports declined to 4,754 tonnes from 10,495 tonnes in the corresponding period.
Top five exporters were Amalgamated Bean Coffee Trading Company, CCL Products India Allanasons, ITC and Olam Agro India during the January-February period of this year.
The board has pegged the total output at 3,11,500 tonnes for 2013-14 crop year (October-September), down by 2.1% from 3,18,200 tonnes produced in 2012-13.
Source : financialexpress.com [via]
