Business Daily from THE HINDU group of publications
Monday, Sep 17, 2007
ePaper
Business Daily from THE HINDU group of publications Monday, Sep 17, 2007 ePaper |
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Agri-Biz & Commodities
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Coffee Industry & Economy - Exports & Imports Coffee Board confident of achieving export target
Bulk of reduction in export permits is due to re-exports which fell 78% Coffee growers seek instruments to help mitigate price-related risk Crop output may be hit on widespread damage due to excessive monsoon L.N. Revathy Coonoor, Sept 16 The Coffee Board Chairman, Mr G.V. Krishna Rau, has expressed concern over the slackness in export performance during the first half of the current fiscal compared with the corresponding period of the previous year. Recapping the crop scenario at the 114th UPASI annual conference session on Commodity Outlook, he said export permits have been issued for 97,000 tonnes up to mid-September this year compared with 1,25,000 tonnes during the corresponding period of the previous year, registering a 22 per cent drop. “While the bulk of reduction in export permits came from re-exports (which fell by 78 per cent), the permits issued for Indian coffee exports dipped by 16 per cent,” he said, and expressed confidence about meeting the current year’s export target of 2.10 lakh tonnes. The unit value realisation, however, stands at Rs 88,000 this year compared with Rs 75,646/tonnes, up 16 per cent, he said and pointed out that the realisation in dollar terms was higher by 27 per cent at Rs 2,092/tonnes (1,648/tonnes last year). Stating that the present prices were comfortable, he called upon the Government and the industry to identify instruments and put them in place to enable coffee growers mitigate the price-related risk in times of need. “While efforts are in place, development of futures market coupled with warehousing and quality assurance mechanism, electronic spot markets would provide opportunities for growers to make informed and intelligent decisions,” he said. On coffee futures, he said contracts were available in two commodity exchanges and efforts were on to establish backward linkages in warehousing and quality assurance at the warehouse, and development of electronic spot markets. Crop ProspectsThe Board had initially estimated the 2007-08 crop at 2.91 lakh tonnes, of which arabica was pegged at 1,00,750 tonnes and robusta the rest, but the crop witnessed sizeable drop due to widespread damage caused by excessive monsoon in many locations. “The post-monsoon estimates will be taken up in October,” he said. Meanwhile, Mr Rau detailing the scale of the calamity said the district authorities assessing the damage had received 53,000 compensation applications from Wayanad district alone, comprising 84,000 coffee growers and about 14,000 applications from growers in Coorg district among others. On the stringent norms imposed by importing countries to check the maximum residue level, particularly of Lindane or Chlorpyriphos, he said: “Withdrawing the use of such chemicals did not have a negative impact on the crop. However, there should be no scope for complacency in control measures.”. More Stories on : Coffee | Exports & Imports
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