Record global coffee export helps earnings to rise by 50%.

Buoyed by an all-time high export of coffee globally, the earnings from the shipment of the brew rose by 50 per cent to $22.7 billion in the 2010-11 coffee year, International Coffee Organisation (ICO) said. Worldwide overseas earnings from coffee stood at $15.1 billion in 2009-10 coffee year (October-September).

"The total value of exports in coffee year 2010-11 is estimated at $22.7 billion for a total volume of 104.5 million bags compared to $15.1 billion for a volume of 94.3 million bags in 2009-10," ICO, a London-based body of coffee exporting and importing countries said.

Exports earnings from arabica variety of coffee rose by 57 per cent to $18.42 billion in the last coffee year from USD 11.67 billion in 2009-10 coffee year.

Shipments of robusta variety rose by 25 per cent to $4.28 billion from $3.42 billion in the same period, ICO added.

According to its data, global coffee exports rose by 11 per cent to an all-time high of 104.5 million bags in the 2010-11 coffee year from 94.3 million bags (of 60-kg each) in the 2009-10 coffee year.

"Exports in coffee year 2010-11 totalled 104.5 million bags, the highest level on record," the global body had said earlier.

Export earnings of the brew had also registered an increase in the last calender year as well.

The value of total exports in calendar year 2011 is currently forecast at $23.5 billion for a total volume of 102.4 million bags, compared with $16.7 billion for a volume of 96.8 million bags in 2010.

Coffee is the one of the most traded commodities globally, after crude oil.

According to the government-run Coffee Board of India, the total global trade is valued at around $120 billion annually.

Source : profit.ndtv.com