Indian instant coffee exporters are depending more on imported raw coffee for their shipments, thanks to global fall in coffee prices and relatively high prices of raw coffee in the country, even as weakening rupee has pushed exports.
While the total coffee exports from India for nine-and-a-half months to September 15 showed marginal increase at 2,36,779 tonnes year-on-year, the instant coffee re-exports jumped 22% to 46,127 tonnes for the period.
Global coffee prices plunged following a larger-than-expected crop output in Brazil, the largest producer. Weakening of the Brazilian currency too contributed to the fall in global prices.
Prices of Indian green coffee of both varieties - Arabica and Robusta - are about 10% higher than global prices. So, instant coffee exporters are increasingly opting to import raw coffee.
Hyderabad-based CCL Products (India), the country's top instant coffee exporter that ships to 80 countries, is now sourcing coffee from African countries, Brazil, Columbia, Vietnam, Mexico, Columbia and Peru.
Challa Srishant, MD of CCL Products, feels that instant coffee is winning more fans globally because it is cheaper and more convenient to prepare than the regular filter coffee. Its quality has also improved, he said. Latest trends in instant coffee are functional coffees, in which certain ingredients are added for health benefits like green coffee extract for weight loss, he added..
Source:- economictimes.indiatimes.com
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