Coffee brings sweet news on forex front

Written by Commodities Bureau | Bangalore, Nov 24 | Updated: Nov 26 2008, 04:52am hrs
India witnessed the highest foreign exchange through coffee exports in 2007-08 when production was lower in volumes, said GV Krishna Rau, chairman of the state-owned Coffee Board.

"The year 2007-08 witnessed the highest ever export realisation from coffee both in terms of dollar ($ 502.84 million) and rupee (Rs 2,046.28 crore), Rau said at the India Coffee Awards 2008 presentation programme in Bangalore.

The highest unit value realisation of the decade (Rs 93,439 per tonne) was also achieved during this period with overall exports touching 2,18,996 tonne, he added. The exporters achieved this milestone when the production stood at 2, 62,000 tonne, ten-year low. The quality of Indian coffee has helped the exporters to achieve this, he added.

Especially, he said that the export volume of estate coffee and specialty coffee has increased in the last five to six years. He also said that coffee markets in the Asian countries would have huge growth in the future.

In fact to encourage coffee exports, he said the Coffee Board instituted the export awards in 1999-2000.

For 2007-08, General Commodities bagged the best exporter award for having exported 26,061 tonne valued at Rs 236 crore out of total green coffee exports of 64,649 tonne, while CCL Products was chosen as the best exporter for instant coffee exports.

CCL exported 19,959 tonne valued at Rs 191 crore out of total instant coffee exports of 64,649 tonne. Aspinwall & Co has been adjudged as the best exporter of specialty coffee for exporting 3,576 tonne of total specialty coffee exports of 10,688 tonne.

Coca-Cola India bagged best award for exporting roasted coffee. Nestle India bagged award for best exporter of coffee to Russia and Allana Sons to Middle East.

Money spinner

Overall coffee exports touched 2,18,996 tonne

Export volume of estate coffee, specialty coffee up

the Asian countries to have huge growth in the future