India exported record 3.48 lakh tonne coffee in FY'12 .

New Delhi: India exported a record 3,48,029 tonne coffee in 2011-12 driven by high international prices and increased domestic output, according to the Coffee Board.

Coffee exports from India, Asia's third-biggest grower, stood at 3,16,034 tonne in 2010-11.

"Better prices in the global market and sufficient domestic supply encouraged our exports to a record level," a senior Coffee Board official said.

The export realisation has also increased to Rs 1,40,456 per tonne this fiscal, as against Rs 1,16,284 tonne in the 2010-11 fiscal, he said.

As per the Board data, the volume of exports in terms of value has risen by 33 percent to Rs 4,888.30 crore, from Rs 3,674.98 crore, in the reviewed period due to good prices.

For instance, global rate of arabica at the beginning of the current fiscal was ruling firm at USD 6,424/tonne, as against USD 3,608/tonne in April 2010, as per trade data.

A similar trend was in robusta prices, which ruled as high as USD 2,582/tonne in April 2011.

The production this year is estimated to be up by over six percent at 3,22,250 tonne, including 1,04,525 tonne of arabica and 2,17,725 tonne of robusta, the Board said.

India exports around 70 percent of its total coffee output mainly to Europe.

Source : zeenews.india.com