Indian Coffee Export Report released by Coffee Board of India shows 2 percent drop in export till April 2017 as compared to last year exports.
According to some exporters, Main reasons for this drop in export is due to strengthening of the rupee and sluggish demand in international market.
[irp]Based on earlier data, India exports about 70% of its coffee output. The shipments have started dropping after showing a rise earlier in 2017.
“Many exporters sold their stock when the prices were high. Those who missed the bus will have to be content with lower prices Most of the buyers have sufficient stocks and are well covered, and are not buying much ” said major Exporter.
Global robusta futures prices in London have dropped to $1,916 per tonne from a five-year high of $2,260 per tonne in January. Exporters attributed the fall in prices to speculation and arrival of crop from Vietnam, the second largest coffee producer after Brazil.Prices have dropped in India in line with the global trend
Robusta cherry prices here have fallen from Rs 3,500-3,600 per 50 kg to Rs 3,100,which is below the cost of production.[irp]
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