Kochi: The global coffee supply position next year may not outweigh the demand and in such a situation, most likely to happen according to trade sources, the Prices are to rule firm in the next coffee year also. Despite the projection of a good crop in 2008-09 in Brazil, the world's top producer, which drives the world coffee price, the rates are ruling firm at moderate levels. The consumption of coffee in the world is growing at two per cent a year while in India it is estimated 8-10 per cent.
The total Indian output in 2008-09 is estimated at 2.93 lakh tonne as against 2.62 lakh tonne in 2007-08. The increase in the Indian production is insignificant given the growth in consumption in the country.According to International Coffee Organisation (ICO) despite a downward correction, with the ICO composite indicator price falling from 142.99 US cents per lb on July 01 to 132.17 cents/lb on July 31, prices remained firm, with the July monthly average at 132.78 cents/lb compared to 130.51 cents/lb in June.
The total Indian output in 2008-09 is estimated at 2.93 lakh tonne as against 2.62 lakh tonne in 2007-08. The increase in the Indian production is insignificant given the growth in consumption in the country.According to International Coffee Organisation (ICO) despite a downward correction, with the ICO composite indicator price falling from 142.99 US cents per lb on July 01 to 132.17 cents/lb on July 31, prices remained firm, with the July monthly average at 132.78 cents/lb compared to 130.51 cents/lb in June.
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