Bangalore: Coffee exports for the financial year ending March 2011 has increased by 60% year-on-year on higher crop output and increased overseas demand for Indian coffee.
According to statistics available with the state-owned Coffee Board, the apex body for the Indian coffee industry, exporters have shipped 3.24 lakh tonne during the fiscal, up from 2.02 lakh tonne exported a year ago. The foreign exchange fetched through exports climbed by a whopping 75% to R3,781 crore from R2,154 crore. In dollar terms, the export revenue shot up by 84% $ 809 million from $ 440 million.
The higher exchange value for dollar against rupee has helped the exporters to fetch good prices for their product, said J Manjunath of Bangalore-based Sivadarsh Exporters.
He said the unit value of coffee increased to R1.16 lakh per tonne during the period compared to R1.06 lakh. The increasing coffee prices at the international market has helped the Indian exporters too to get lucrative offer for their shipments.
Especially, the exports in the fourth quarter from January to March 2011 witnessed bumper numbers. Around 30% of coffee exported in the year was recorded in the fourth quarter. This was because the estates have harvested Arabica coffees starting from November.
Along with the fresh arrivals, exporters have also shipped the carry over stock in the fourth quarter. During the period, India's coffee shipments jumped to 1.03 lakh tonne from 69,000 tonne recorded in the same period a year ago. The foreign exchange fetched through exports more than doubled to $322 million from $153 million while in rupee term it increased to R1,513 crore from R730 crore.
(Source: http://www.financialexpress.com/news/coffee-exports-surge-60/770068/0)
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