Record prices are seen lifting coffee shipments in value terms during the April-June quarter even as exporters faced muted demand that’s seen reflecting in reduced volumes during the quarter over same period last year.
Based on the permits issued by the Coffee Board from April1-June 27, the value of the shipments during the quarter was up 7 per cent at $324 million over $303 million in the same period a year ago. In rupee terms, shipments were higher by some 14 per cent at ₹2,670 crore over ₹2,343 crore in the year-ago period.
In terms of quantity, permits issued during the quarter were down at 1.03 lakh tonnes against 1.07 lakh tonnes a year ago. Average price realisations were up around 18 per cent at over ₹2.57 lakh per tonne as compared to over ₹2.18 lakh per tonne.
Imports for re-exports
In the current calendar year from January 1-June 29, the volume shipped was down around 3 per cent at 2.15 lakh tonnes compared with 2.21 lakh tonnes a year ago. Of this, the Indian bean shipments were down 5 per cent at 1.66 lakh tonnes (1.75 lakh tonnes a year ago). Imports for re-exports were up at 48,969 tonnes (46,055 tonnes). Overall shipments of instant coffees were up 15 per cent in volume during the calendar year, so far, at 70,330 tonnes against 61,063 tonnes.
According to exporters, the surge in prices coupled with recessionary conditions in key European markets such as Germany is seen weighing on the demand. The prevailing economic conditions are seen forcing consumers in the European markets to shift towards better value coffees resulting in higher demand for the instant coffees and robusta cherry.