Saturday 21 May 2022

Indian export up by a quarter in Jan-Feb period

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MILAN – Indian coffee exports of green bean rose by more than a quarter in the period from January 1 till February 19 reaching 30,100 tonnes against 23,930 tonnes in the corresponding period last year, reports the Coffee Board of India. Including the coffee imported for re-exports, the total shipments surged 23 percent to 44,114 tonnes.

According to local sources, the harvest of Arabica is complete, whereas the ongoing picking of Robusta beans is almost over in about three fourth of the acreage. Exporters and traders are seen actively buying coffees from growers.

However, exporters are not happy with the surge in volumes as buyers, of late, are insisting on renegotiation of contracts after the recent depreciation of rupee against the dollar.

“It is a kind of double whammy for us. While our realisations are already under pressure due to volatile prices, the buyers are insisting on renegotiating the deals.

They want some benefit of the currency depreciation to be passed on to them,” said Ashok Kurian, Managing Director of Balanoor Plantations, a producer and exporter of specialty coffees.

Despite lower prices, when compared to last year’s levels, growers are seen selling their produce as a higher output this year has offset the lower realisations to an extent.

Having burnt their fingers by holding on to their produce last year, when prices turned volatile, growers are seen selling off their coffees as and when their produce is ready to sell.

“The growers are selling more coffee this year than they did last year,” said N Bose Mandanna, a large grower in Coorg.

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