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Coffee export has dropped 5.4 per cent in the first eight months of the calendar year, between January and August, compared to the corresponding period of last year. The figure was 221,189 tonnes during the eight-month period compared to 233,784 tonnes in the same period of last year.
In value terms, Indian exporters earned Rs 3,590 crore compared to Rs 3,438 crore in the same period last year. The unit value realisation went up to Rs 163,293 per tonne as against Rs 148,143 earlier. In dollar terms, $591 million now as against $638 mn a year before.
“We had expected a decline mainly due to a short crop during the crop year 2013-14. Exporters were left with a shorter size than anticipated last year,” said Ramesh Rajah, president, Coffee Exporters’ Association.
Exporters couldn’t manage a larger benefit from the global price rise in the Arabica variety during the first and second quarter of the current financial year (April onwards) as as the crop was short and exporters operated with lower inventory, he said.
Adding prices had been volatile. The fluctuation was mainly dictated by Brazil, which reported swings in weather and crop prospects. “There are concerns of Brazil again not getting good rains for its next crop. The market is a little nervous and the prices, which had corrected in the last quarter, have shown some upward movement again. However, there is no visible trend in the international markets,” said Rajah.
“ICE December Arabica coffee futures settled up 1.2 cents, or 0.6 per cent at $2.0120 per lb. The Second position closed the month up 1.2 percent, its second straight monthly gain. LIFFE November Robusta coffee futures closed up $16, or 0.8 per cent, at $2,055 a tonne,” the Coffee Board said.
Rajah said by the current trend, the full-year exports are likely to be in the range of 300,000 tonnes. In 2013, India exported 312,420 tonnes.
