Coffee exports dip by over 8% on weak global price
India's coffee exports declined by little over 8 per cent to 2.97 lakh tonnes till November of the current calendar year impacted by weak global prices as a result of higher supplies, according to the Coffee Board.
December 03, 2012 / 15:11 IST
India's coffee exports declined by little over 8 per cent to 2.97 lakh tonnes till November of the current calendar year impacted by weak global prices as a result of higher supplies, according to the Coffee Board.
The country had shipped 3.23 lakh tonnes of the bean in the corresponding period last year, it’s said. "Generally, coffee exports are doing well. But if you compare with last year's record level, the shipments have come down due to weak global prices following higher supply from other countries," a senior Coffee Board official told PTI.Global demand remained firm but less lucrative price curbed shipments despite ample domestic availability for the export purpose, the official added.During the January-November period of this year, the country shipped 2.97 lakh tonnes of coffee, of which robusta and arabica varieties stood at 1.53 lakh tonnes and 56,018 tonnes, respectively, according to latest data released by the Board.In the same period last year, the overall coffee exports remained at 3.23 lakh tonnes, of which robusta was 1.83 lakh tonnes and arabica shipments were 51,831 tonnes. However, export of instant coffee rose slightly to 44,461 tonnes from 43,351 tonnes in the review period.Much of the exports have been to Italy followed by Russian Federation, Germany, Belgium and Slovenia. Experts said global prices, especially of arabica variety, have fallen in the last few months. There could be modest drop in international prices of both coffee varieties if the world production touches a record level this year.The Board has pegged post blossom coffee production at 3.25 lakh tonnes for 2012-13 as against the actual output of 3.14 lakh tonnes in the last year.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
