india coffee exports march 2012 : India’s coffee exports rose 10% in the fiscal year through March to a record 3,48,029 tonne on the back of a good harvest and a depreciation of the rupee, but depleting stockpiles may jeopardise the country’s shipment prospects this fiscal, government and trade officials said.
Coffee exports by India, Asia’s third-biggest grower, soared in the last fiscal as traders took advantage of a 16% depreciation of the rupee rupee in 2011 which made shipments more remunerative, the trade executives said. High prices of the bean globally and the weak rupee sent exports earnings soaring by 33% from a year before to R4,888.30 crore in 2011-12, according to official data. Average coffee price rose 17% to R1,40,456 per tonne in the last fiscal, driven mostly by a surge in arabica prices. Arabica prices jumped more than 75% to $6,424 per tonne in the last fiscal, while robusta gained robusta prices, which ruled. as high as $2,582/tonne in April 2011.
However, the shipments may fall to around 300,000 tonne in 2012-13 on a macro-economic crisis in key market Europe, said the executives. India exports around 70% of its total coffee output mainly to Europe. The state-run Board expects the country’s output to touch 3,20,000 tonne in the crop year through September 2012, up 6% from 302,000 tonne a year before, but exports may still fall due to current low stocks level.
Arabica prices are expected to rise in the quarter starting April on “limited availability of coffee due to poor weather in Colombia and Central America, along with chances of a smaller-than-expected Brazilian crop”, the Coffee Board said
Coffee exports by India, Asia’s third-biggest grower, soared in the last fiscal as traders took advantage of a 16% depreciation of the rupee rupee in 2011 which made shipments more remunerative, the trade executives said. High prices of the bean globally and the weak rupee sent exports earnings soaring by 33% from a year before to R4,888.30 crore in 2011-12, according to official data. Average coffee price rose 17% to R1,40,456 per tonne in the last fiscal, driven mostly by a surge in arabica prices. Arabica prices jumped more than 75% to $6,424 per tonne in the last fiscal, while robusta gained robusta prices, which ruled. as high as $2,582/tonne in April 2011.
However, the shipments may fall to around 300,000 tonne in 2012-13 on a macro-economic crisis in key market Europe, said the executives. India exports around 70% of its total coffee output mainly to Europe. The state-run Board expects the country’s output to touch 3,20,000 tonne in the crop year through September 2012, up 6% from 302,000 tonne a year before, but exports may still fall due to current low stocks level.
Arabica prices are expected to rise in the quarter starting April on “limited availability of coffee due to poor weather in Colombia and Central America, along with chances of a smaller-than-expected Brazilian crop”, the Coffee Board said
No comments:
Post a Comment