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India's coffee exports up 11.51 percent in April.


Date: 07-06-2017
Subject: India's coffee exports up 11.51 percent in April
India's coffee exports grew by 11.5 percent year-on-year to USD 92.42 million in April this fiscal on account of strong demand in the global markets.

The country had shipped coffee worth USD 82.88 million in April last year, according to the commerce ministry data.

In rupee terms, the exports recorded a growth of 8.22 percent at Rs 596.17 crore in April.India mainly ships robusta and arabica varieties of coffee aside from instant coffee.

Coffee is one of the most widely traded agricultural commodities in the world. India accounts for about 4.5 percent of the world coffee production and the industry provides jobs to over six lakh people.

India's major export destinations include Italy, Germany, Greece, Belgium, Spain and Switzerland.

Coffee output in the 2016-17 crop year is estimated to decline to 3,16,700 tonnes from the record level of 3,48,000 tonnes achieved last year, due to severe drought in some key growing states, especially Karnataka.

The country's tea exports too grew by 8.25 per cent to USD 49.74 million in April as compared to USD 45.95 million in the same month last year.

India is the world's second biggest tea producer and also one of the largest consumers.

The country exports CTC (crush- tear-curl) grade tea to countries like Egypt, the UK, and other traditional varieties to Iraq, Iran and Russia.

Source: moneycontrol.com

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