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Coffee exports decline 7.5% in July |
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New Delhi: India's coffee exports fell by 7.59 per cent to about USD 64 million in July this year due to sluggish global prices.
In July 2014, the country exported coffee worth USD 69.15 million, according to the data available with the Commerce Ministry.
Coffee prices in international markets are under pressure due to production surplus in Brazil, the world's leading producer.
"The currency depreciation in Brazil and Kenya is impacting India's coffee exports. Their products are more competitive in the global market than Indian coffee," said Ajay Sahai, Director General, Federation of Indian Export Organisations.
India exports both arabica and robusta varieties besides instant coffee.
Major export destinations for coffee are Italy, Germany, Turkey, Russian Federation and Belgium, among others.
As per post-monsoon estimate, the country's coffee output is pegged at 3,31,000 tonnes for 2014-15 crop year (October-September), against 3,04,500 tonnes last year.
Besides, several other agri-product exports declined during July this year, including rice (12 per cent), tobacco (8.84 per cent), spices (8 per cent), oil meals (47 per cent), oil seeds (35 per cent) and fruits & vegetables (16.3 per cent).
Decline in exports of these commodities is one of the reasons for the overall dip in the country's overseas shipments.
Exports contracted for the eighth straight month by 10.3 per cent in July to USD 23.13 billion, pushing the trade deficit to USD 12.81 billion.
Source : zeenews.india.com
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