India’s coffee exports grew 11.51% to $92.42 mn in April
The Dollar Business Bureau
Coffee exports from India recorded a growth of 11.5% year-on-year in April this fiscal on account of robust demand in the world markets. The country exported $92.42 million worth of coffee during the month.
The country’s shipment of coffee stood at $82.88 million in the same month last year, as per the data by Ministry of Commerce.
In terms of rupee, the exports witnessed a growth of 8.22% at Rs.596.17 crore in the given month.
India primarily exports Arabica and Robusta varieties of the commodity, in addition to instant coffee.
The country’s key export destinations are Belgium, Italy, Greece, Germany, Spain and Switzerland.
Coffee is one of the world’s most extensively traded agriculture commodities. India’s share is around 4.5% in the overall world’s coffee production and the coffee industry in the country provides jobs to more than six lakh people.
In the 2016-17 crop year, the coffee output in India is estimated to drop to 3,16,700 tonnes compared to record production of 3,48,000 tonnes attained last year, because of severe drought in some of the major growing states, mainly Karnataka.
India’s tea exports also grew by 8.25% to $49.74 million in April as against the $45.95 million during the same month last year.
India is the second largest tea producer in the world and also one of the biggest consumers.
The country primarily ship CTC (crush- tear-curl) grade tea to the markets of the UK, Egypt, and some traditional varieties to Iran, Iraq and Russia.