For those who start and end their day with a cup of coffee, the Americano, cappuccino or latte at Starbucks and Blue Tokai, or any of the other coffee aficionado’s haunts in India like Third Wave and Tim Hortons, tasted just the same last year. But coffee planters in the country were served a bitter brew, as a dip in prices in the international market and factors like erratic weather and lower domestic yields made it difficult for them to even recover investments. One of those left grappling with such consequences was Satish A.T., a coffee planter from Sakleshpur, nestled in the Western Ghats in Karnataka, a state that accounts for over 70 per cent of India’s coffee production. Pushed to defaulting on a bank loan running into several lakhs, Satish lost a piece of land he had pledged as collateral, when the lender moved the debt recovery tribunal. Shift to 2024, and Satish finds himself in vastly different circumstances. Buoyed by a record high in coffee prices, he has even bought a new car on a full down payment of Rs 17 lakh. Talking about the land he lost, Satish said, “If it were this year, I could have retained the land.”
This story is from the July 08, 2024 edition of India Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July 08, 2024 edition of India Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Keeping It Real
KARTIK AARYAN SHOWS OFF HIS ACTING PROWESS AS MURLIKANT PETKAR, INDIA'S FIRST PARALYMPIC GOLD MEDALLIST, IN THE KABIR KHAN-DIRECTED CHANDU CHAMPION
A Healthy Dose of Reading
Superbugs, superdocs and the pharma-industrial complex
The Life Eternal
THE QUEST FOR IMMORTALITY AND THE SCIENCE BEHIND IT ARE EXPLAINED IN LAYPERSON'S TERMS IN THIS BOOK BY THE NOBEL LAUREATE VENKI RAMAKRISHNAN
It's Raining THRILLERS
AFTER A DRY SUMMER SPELL, A FLOOD OF FRESH FILMS SHOULD BRING RELIEF TO PARCHED AUDIENCES
HAUTE TABLES
MAKEOVERS ARE GIVING MUMBAI'S LEGACY RESTAURANTS A FRESH LEASE OF LIFE
A Taste of India
Delhi's INDIAN ACCENT and Mumbai's MASQUE make it to the extended list of the World's 50 Best Restaurants 2024
Back to the Origin
Artist PARESH MAITY talks about his installation'Genesis'-at Personal Structures, a biennial art exhibition in Venice
CONTINENTAL LINKS
Hamisha Daryani Ahuja's Postcards on Netflix highlights the cultural similarities between India and Nigeria
INDIAN COFFEE BLOSSOMS
Indian planters are reaping a windfall as a supply deficit due to a drought in Vietnam, the biggest coffee-producing country after Brazil and the largest supplier of Robusta beans, results in a boom in prices
REVISITING AGNIPATH
Feedback on the military recruitment scheme from various stakeholders has suggested several changes. With the issue exacting a heavy electoral cost too, Modi 3.0 is considering how to make it better