Coffee Exports Surge 76% in First Half.

Bangalore: Coffee exports from India increased by 76% in volume terms in the first half of the current financial year that ends in March, compared to the same period in the previous financial year.

During April-September, the country exported 1.56 lakh tonne of coffee, up from 89,140 tonne exported in the same period a year ago.

In dollar terms, India fetched a foreign exchange of $334 million through coffee exports in the first half of the current financial year, up from $191 million recorded in the same period a year ago. In rupee term, export earnings increased to Rs 1,570 crore from Rs 950 crore during the same period, according to latest data released by the state-owned Coffee Board.

“Higher realisation on the back of a weak rupee helped to push up revenue growth in rupee term,” said J Manjunath of Sivadarsh Exporters.

Looking at the current trend, exports during the current financial year is expected to cross 2.8 lakh tonne compared to 2.04 lakh tonne exported in the previous fiscal.

With fresh Arabica crop expected to hit the market in September, analysts forecast that export volumes in the second half would be much higher compared to the same period a year ago. For the current coffee year starting on October 1, the Coffee board has projected a higher output for both Arabica and Robusta. According to post- blossom estimates of the Coffee Board, coffee output will touch 3.08 lakh tonne in the current coffee year compared to 2.89 lakh tonne harvested in the previous crop year. Arabica output is expected to increase to 99,500 tonne from 94,600 tonne during the period while robusta production is likely to touch 2.08 lakh tonne compared to 1.95 lakh tonne a year ago.

Coffee output in Karnataka, which accounts for 70% of the country’s total production, is expected to increase to 2.19 lakh tonne compared 2.05 lakh tonne harvested in the previous crop year.

Source : financialexpress.com