)
For the period October 2013 to July 2014, the exports were valued at Rs 4,237 crore ($692.55 million), an increase of 8.8% over the same period last year. In the corresponding period last year, exporters earned Rs 3,892 crore ($723.55 million).
The unit value realisation was higher by 7.2% at Rs 1,61,194 per tonne as against Rs 1,50,349 per tonne in the corresponding period of last year, according to data available with Coffee Board.
"ICE Arabica coffee futures rose in choppy trade on Wednesday, while ICE September arabica coffee futures ended up 1% at $1.825 per lb (pound), the highest since May 20. LIFFE September robusta coffee futures ended up $3, or 0.1%, at $2,037 per tonne," the Board said.
In the previous coffee year ending September 2013, the coffee exports from India touched 298,951 tonnes valued at Rs 4,524 crore.
The exporters attribute the current rise in exports mainly to higher prices that prevailed between February and May this year, which was due to the rumours that Brazil was heading towards a shorter crop for 2014. Subsequently, this proved wrong as Brazil went on to harvest better crop than anticipated.
"Coffee prices have been fluctuating over the last one year. After witnessing a record low of around 100 cents per lb in November last year, the prices hit the peak of 210 cents per lb in the first quarter of this year (2014) as the news of lower crop in Brazil hit the markets. The prices went down to around 165 cents per lb in the last two months from May onwards and they have bounced back to 182 cents per lb as the year is nearing its end," said Nishant R Gurjer, an exporter from Karnataka and former chairman of Karnataka Planters' Association (KPA).
He said the news of world's largest producer Brazil likely to harvest a lower crop in 2015 has caused a fresh rally in the prices. "It is too early to predict the Brazilian crop for next year. If this news comes true, the prices would further go up in the coming days", he added.
A significant trend witnessed during the current crop year was the rise in demand for soluble (or instant) coffee from India. During the first 10 months of the crop year, the soluble coffee exports have gone up 7.6% to 59,556 tonnes. In the same period last year, India exported 55,334 tonnes of soluble coffee.
Italy remained the main market for Indian coffee accounting for 26% of the total exports. It was followed by Germany, Russian Federation and Belgium among others.
