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Coffee Exports up 50% in 2009-10 |
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Bangalore: Coffee season for 2009-10, which ends in September, is likely to witness more than 50% increase in coffee exports.
As per the latest statistics available with the Coffee Board, exports climbed up 53% to 2.65 lakh tonne in the current coffee year from 1.74 lakh tonnes recorded in the previous season.
“Exports are expected to cross 2.70 lakh by September 30 as applications of 10-12 large exporters applied for permits would be disposed off by this month,” said an official attached to the state-owned Coffee Board.
In the last crop year, which ended September 2009, India exported 1.78 lakh tonne of coffee. Foreign exchange fetched by coffee exports surged a whopping 44% to $569 million till September 17, 2010 from $ 396 million in the same period a year ago. In rupee terms, overseas revenue touched Rs 2,715 crore, up from 1,906 crore a year ago.
Higher realisation value on the back of a weak rupee helped to push up the revenue growth, said J Manjunath of Sivadarsh Exporters. However, on an average, export value tumbled this crop year to Rs 1.02 lakh per tonne compared to Rs 1.09 lakh a year ago.
Exports surged on the back of increased coffee production in the country. Coffee production in 2009-10 crop year climbed to 2,89,600 tonne from 2,62,300 tonne in the previous season.
Nearly 90% of the coffee produced in the country was exported in the current crop year against 67% in the last crop year, a Coffee Board official said. The increase in export volume was also due to decline in output in other exporting countries like Brazil, Vietnam and Colombia.
Coffee production in Brazil (largest producer) declined to 39.47 million bags in the current crop year from 45.99 million bags while it tumbled to 18 million bags from 18.5 million bags in Vietnam, which is the second largest producer. Production in Colombia, which stands in the fourth place ahead of India in the world coffee producing chart, fell to 8.50 million bags from 8.66 million bags. World coffee production in 2009-10 declined by 6.6% to 119.90 million bags from 128.43 million bags a year ago.
Source : financialexpress.com
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