Coffee exports surpass $1-bn mark in Apr-Nov

TRADITIONALLY A TEA exporter, India is making significant inroads into the global coffee export market with total exports during the current financial year up to November crossing the $1-billion mark for the first time, according to data from Centre for Monitoring Indian Economy (CMIE).

- RAVI DUTTA MISHRA

The sharp growth is partly attributed to a surge in Robusta coffee prices, which account for over 40% of global production, and partly due to stocking ahead of the European Union's (EU) new deforestation regulation that could raise the cost of coffee as well as several other agricultural exports to the EU.

India's coffee exports rose to a record high of $1,146.9 million between April and November in FY24, compared to $803.8 million during the same period last year, registering a 29% rise. This figure is nearly double the exports during the same period in FY21, which stood at $460 million.