Global coffee exports increased by 14.1% in the first 10 months of the current crop year (October 2010-July2011) following raising consumption in the producing and importing countries.
According to International Coffee Organisation (ICO), the exports rise to 88.9 million bags (60-kg a bag) from 77.9 million bags recorded in the same period a year ago. This level of total exports during the first ten months of the coffee year is still the highest on record, the ICO said its latest report.
The prime reason for alarming level of increase in exports is due to appreciable jump in consumption. The global coffee consumption climbed to 134.77 million bags in 2010 calendar year from 131.96 million bags.
The producing countries could able to meet the demand from buying countries as the production in the last season increased by 8.2%.
The global coffee production in the crop year 2010-11 stood at 133.3 million bags, up from 123.2 million bags reported in the previous season.
Exports from India also registered a record level so far in the current crop year. According to figures available with the state-owned Coffee Board, from October 2010 to September 12, the country?s exports increased to a whopping 3.41 lakh tonne from 2.55 lakh tonne recorded in the same period a year ago.
Its foreign exchange through exports jumped to $999 million from $548 million in dollar terms while in rupee term it climbed to R4,571 crore from R2,615 crore.
For the next crop year 2011-12, the world coffee production is estimated to decline to 130 million bags from 133.3 million bags witnessed in the previous crop year. However, India?s production is likely to increase in the next crop year due to favourable weather condition.
According to post blossom estimation by the Coffee Board, the coffee production is estimated to be in the range of 3.22 lakh tonne in India in the next crop year 2011-12 compared to 3.02 lakh tonnes recorded in the previous season. With this, the exports from India is expected to increased by 10-15% in the next crop year.
