Updated April 5th, 2022 at 13:51 IST
World is waking up with Indian coffee, 42% rise in exports in 2021-22: Piyush Goyal
Union Minister Piyush Goyal said that coffee growers and exporters have enabled record exports of coffee, amounting to over a billion dollars.
Promising a boost to Indian Coffee Industry, the country's coffee export witnessed a steady increase of 42% in 2021-22. Minister of Commerce Piyush Goyal said that coffee growers and exporters have enabled record exports of coffee, amounting to over a billion dollars. Piyush Goyal wrote on the Koo app, "World is waking up with Indian coffee. 42% rise in exports in 2021-22 over the previous year. Our coffee growers and exporters have enabled record exports of coffee, amounting to over a billion dollars".
This came after the export of Indian coffee decreased at an annual decline of 3 per cent between 2011-12 till 2020-21.
India's coffee exports witnessed a decline in 2020-21
According to a report by global trade finance company Drip Capital that quoted the data from the Directorate General of Foreign Trade (DGFT), India exported nearly $720 million worth of coffee in 2020-21 of which Robusta coffee beans export constituted 42 per cent. The drop was witnessed due to the impact of the COVID-19 pandemic, wherein FY2019-20 the overall export of India's coffee reached a nine-year low in dollar value. It is learned that green coffee beans' shipment was significantly impacted in March 2020, which is considered to be the right period for harvesting of Robusta coffee and exports.
According to the MoneyControl report, in 2021, Indian coffee exports rose 28% because of a revival in demand in the big coffee-drinking nations in the second half of the year. As per the Coffee Board data, exports reached 395,716 tonnes in the year and earned $950 million. This was recorded as the highest figure in the past decade.
In 2020, Indian shipments had shrunk to 308,050 tonnes worth $714 million due to the COVID pandemic lockdown. It is to be noted that the same continued to affect coffee exports in the first half of 2021 as well.
Published April 5th, 2022 at 13:51 IST