Coffee Exports Fall On Weak Global Prices In Jan-Oct Period

Coffee exports fell marginally to 2,76,842 tonnes in the first ten months of the current calendar year, due to a major drop in global prices, according to the Coffee Board.



The country has shipped 2,77,296 tonnes of the coffee bean during the January-October period of 2012, it said.



"There is a small drop in export quantity. It was mainly due to a sharp price fall in global market owing to excess supply from other major producing countries like Brazil," a senior Coffee Board official told PTI.



In value terms too, coffee shipments fell to Rs 4,152.65 crore during the January-October period of this year, from Rs 4,640.07 crore in the year-ago period, he said.



The value of shipments declined due to lower export realisation of Rs 1,50,000 per tonne, as against Rs 1,51,929 per tonne in the review period, he added.



Maximum quantity of coffee has been exported to Italy at 69,328 tonnes, followed by Germany at 27,932 tonnes and Russia at 18,279 tonnes, the Coffee Board data showed.



Out of total coffee shipments, export of arabica varieties stood at 50,153 tonnes in the first ten months of the current year, down from 53,668 tonnes in the year-ago.



However, export of robusta varieties remained slightly better at 1,48,033 tonnes as against 1,47,862 tonnes in the review period, the Board data showed.



Interestingly, re-export of coffee from the country improved to 58,985 tonnes during January-October of this year from 39,460 tonnes in the same period last year.



According to exporters, global prices of coffee have nosedived to their lowest levels in four and a half years due to the prospect of bumper harvest from Brazil and Vietnam.



Last month, arabica prices fell to $109 cents per pound, lowest since March 2009, while robusta rates hit $1,560 level, they added.



The Coffee Board has pegged total coffee production to be higher at 3,47,000 tonnes in the ongoing 2013-14 season that started from October. Harvesting of the crop will begin from next week.



Source:- business-standard.com