Breaking News

You are here » Indian-Commodity  :  Commodities  :  Coffee  :  Global coffee export revenue drops 25% to $1.5 billion: ICO

15-Jun2013

Global coffee export revenue drops 25% to $1.5 billion: ICO

The export revenue of coffee producers across the world has taken a hit as their average monthly earnings from shipments have declined 25% to $1.5 billion, as per report compiled by the International Coffee Organization (ICO). The significant reduction in arabica prices is having a negative effect on revenue for coffee producers. Since the beginning of 2012, monthly shipments have consistently maintained a volume of 8-10 million bags of 60 kg each, but the revenues accruing from these exports have declined from over $2 billion to around $1.5 billion.

The monthly average of the ICO composite indicator price fell to 126.96 US cents per pound in May 2013, its lowest level in over three years. This average is also 19.5% lower than that of May 2012, with decreases recorded in the last four consecutive months. The problem of lower export revenue is compounded by the fact that the cost of production has been rising in many exporting countries.

The world coffee exports reached 9.6 million bags in April, a 4.4% up on April 2012, as per the ICO data. This brings the total export for the first seven months of 2012-13 coffee year (October-September) to 66 million bags, a 7.1% increase on the 61.6 million bags exported in the same period last year.


Related News

View all news

Govt unveils blockchain-based coffee e-marketplace to help farmers get fair prices

With an aim to help farmers to integrate with markets, the commerce ministry has launched a blockchain-based coffee e-marketplace. With this, farmers can realise fair prices for the commodity. The blockchain......

Coffee exports rises 8.08% to 3.61 LT in Jan-Nov period

The exports of coffee from India rose by 8.08% to 3.61 lakh tonnes (LT) in January-November 2017 compared to 3.34 LT in the same period of last year. India, Asia's third-largest producer and exporter,......

India's coffee output pegged at record 3.5 LT in 2017-18: Coffee Board

The production of coffee in India is projected to be at record 3.50 lakh tonnes (LT) in the 2017-18 marketing year on account of higher acreage. Of the total output of 3.50 LT, the Coffee Board estimates......

Top News

View all news

SRF, NIIT Technologies and United Bank of India to see some action today

SRF has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences Company in an all-cash transaction, amounting to Rs 320 crore. The......

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......