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Arabica Parchment coffee price hits all-time high
Arabica Parchment coffee price hits all-time high
Arabica Parchment coffee price soared to an all-time high of Rs 14,400 per 50-kg bag on Thursday in Kushalanagar and Chikmagalur markets
Madikeri: Arabica Parchment coffee price soared to an all-time high of Rs 14,400 per 50-kg bag on Thursday in Kushalanagar and Chikmagalur markets. According to vendors this was the highest price ever for this coffee variety in 28 years. Normally, this coffee variety commands a price of Rs 10,000-10,500.
The cost of Robusta Parchment increased to Rs 7,000 per bag. The last time when Arabica coffee reached the highest rate was in 2014 at Rs 9,600 to Rs 9,800 per bag. The price saw a downward trend and touched Rs 6,000. Arabica Cherry costs Rs 5,800-Rs 6,200 a bag while the rate of Robusta Cherry ranges between Rs 3,200 and Rs 3,800 per bag. Growers in Kodagu, Chikkamagaluru and Hassan have expressed their happiness on the improved market rate of coffee, despite problems of shortage.
But Arabica Parchment price on Friday dropped to Rs 13,800. Decades ago, coffee was bought and exported by the government through the Coffee Board. Coffee growers have been allowed to sell their coffee in the open market since 1992, following angry protests by them.
December to April is the time for coffee harvesting and 90 percent of growers sell the produce before rainy season due to the price fluctuation and lack of warehouse facilities.
Arabica Coffee's share of the country's total production is less than 30 per cent, while Robusta accounts for 70 per cent. The total annual coffee production in the country is approximately 3.6 lakh tonnes. Most of the Arabica growers have already sold their produce.
Speaking to The Hans India, a coffee exporter and promoter of AWIT Innovations (P) Ltd in Kushalnagar, Rajiv Kushalappa said that the price fluctuations are likely to increase in the near future due to prevailing international market conditions. According to him, the hike in the price was fallout of crop loss in Brazil following heavy snow fall. Brazil is the largest exporter of coffee in the world.
Ratan Machaiah, a coffee grower in Gonicoppa, said that the cost of production of coffee has increased significantly in recent years and growers are in distress. The wages of labourers, fertilisers, pesticides, etc., have doubled over the past decade, but price remains the same. The growers are gambling on unpredictable climatic conditions year after year. He has urged the government to support the growers by announcing a special package.
