Coffee exports up 18.6% to 2.14 lakh tonnes in April-Oct.

The country’s coffee exports rose 18.6% to 2,14,677 tonnes in the April-October period of the current fiscal despite low realisation, according to the Coffee Board.

In value terms, coffee exports increased 7% to Rs 3,224 crore in the first seven months of this fiscal from Rs 3,013 crore in the year-ago period, Coffee Board data showed.

Overseas shipments moved up even as export value realisation of coffee came down by 9.7% at Rs 1,50,180/tonnes during April-October period of this year when compared with Rs 1,66,461/tonnes in the year-ago period.

Traders said export realisation remained lower because of weak global prices, which have started firming up.

Global Arabica coffee prices had hit 21-month high last week to settle at $1.65 a pound, while Robusta coffee prices firmed up to $2,166 a pound as rains slowed the pace of harvesting in top producer Vietnam, the Board said.

India exports both Arabica and Robusta varieties, besides instant coffee. Major export destinations for coffee are Italy, Germany, Turkey, Russia and Belgium, among others.

As per the Board estimates, coffee production in the ongoing 2016-17, crop year is pegged lower at 3,20,000 tonnes, as against 3,48,000 tonnes in the last year.

During the 2015-16 fiscal, the country had exported 3,19,733 tonnes of coffee.

Source : deccanherald.com