NEW DELHI (Commodity Online): Global coffee price will remain high for the next 10 years due to the increased consumption of brew by the middle class people in India, China and Brazil, according to Roberio Silva, executive director, International Coffee Organisation (ICO)
"We do not see a slump in coffee prices; perhaps in the next 10 years unless something drastic happens in the supply chain," added Silva, Allafrica.com reported.
Meanwhile, India's coffee exports revenue increased 71.02% to Rs 4,334.37 crore during the January to October period in 2011 compared to same period last year.
During the period India exported incresed to 3.10 lakh tons of coffee at Rs 1.39 lakh a ton compared to 2.48 lakh ton at Rs 1.01 lakh a ton same period last year, reported Business Standard.
According to the traders, the good availability of washed arabicas and robusta parchment has been the reason for the increase in exports.
But presently, due to the current global scenario, brew prices are averaging 230-250 cents a pound and also exports are slow.
On Inter-Continental Exchange (ICE), the coffee for December delivery traded up 3.78% to 233.80 cents a pound on Thursday at 12:05 IST.
