|Subject||Coffee exports up 38% in January on strong global prices|
NEW DELHI: Country's coffee exports rose 38 per cent to 26,161 tonnes in January on account of firm global prices, according to the Coffee Board of India.
The country had shipped 18,979 tonnes in the same month of the previous year, the data showed. In value terms, exports rose to Rs 393.70 crore in January this year from Rs 304.70 crore in the year-ago period, even as unit realisation was down at Rs 1,50,496 per tonne.
"Exports remained high as global prices improved and have remained stable since last one month. International prices have gone up on expectation of lower crop in Brazil," Board's Chairman Jawaid Akhtar told PTI.
Currently, harvesting is underway in the country and normally small growers try to sell off their produce. This is also one of the key reasons for higher exports, he said.
Akhtar, who also heads International Coffee Organisation ( ICO), said the production forecast for Brazil, the world's largest coffee producer, has been revised downward for this year to below 48 million bags from earlier 58 million bags.
With this development, arabica prices in the global market rose to around 130 cents per pound now from 110 cents per pound a month back, he added.
According to the latest Board data, shipment of robusta coffee rose by over 90 per cent to Rs 10,101 tonnes in January this year, from Rs 5,306 tonnes in the year-ago period.
Similarly, export of arabica coffee increased by over 46 per cent to 9,200 tonnes from Rs 6,290 tonnes in the review period. But export of instant coffee remained down at 6,838 tonnes as against 7,356 tonnes in the same period.
Maximum coffee was exported to Italy (5,675 tonnes), followed by Germany (2,621 tonnes), Belgium (2,109 tonnes), Jordan (1,674 tonnes), Turkey (1,646 tonnes) and Russian Federation (1,309 tonnes) in January 2014, the data showed.
During the April-January period of this fiscal, the country's total coffee exports increased to 2,41,956 tonnes as against 2,25,570 tonnes in the year-ago period.
Currently, arabica harvesting is almost over in the country, while robusta picking is continuing. The Board has pegged total output at 3,11,500 tonnes for 2013-14 crop year (October-September), down by 2.1 per cent from 3,18,200 tonnes produced in 2012-13.
Source : economictimes.indiatimes.com
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