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Global coffee exports earnings are expected to rise by almost 41 per cent to $23.5 billion in 2011 calendar year, while shipments are expected to increase by 6 per cent to 102.4 million bags of 60 kg each in 2011, the International Coffee Organisation (ICO) has said.
Global trade stood at $16.7 billion in 2010, whereas, the volume of exports stood at 96.8 million bags.
“The value of total exports in calendar year 2011 is currently forecast at $23.5 billion for a total volume of 102.4 million bags compared with $16.7 billion for a volume of 96.8 million bags in 2010,” it noted.
Coffee is the one of the most traded commodity globally after petrol.
According to the government-run Coffee Board of India, the total global trade is valued at around $120 billion annually.
India, which accounts for 2 per cent of the total area under coffee globally, produces 4 per cent of the world’s coffee and accounts for about 4 per cent of the world trade.
Shipments from India are expected to drop by 14 per cent to 240,000 to 250,000 tonnes in the current fiscal from 294,000 tonnes in the 2010-11 fiscal, the Coffee Board has pointed out.
Whereas, the board expects the production to rise to 321,000 tonnes in 2011-12 crop year against 301,000 tonnes in 2010-11 coffee year (October-September).
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