Aug. 3 (Bloomberg) -- Coffee exports from India, Asia’s third-biggest supplier, dropped 21 percent in the first seven months of this year after excessive rains damaged the crop in the nation’s main growing region.
Tata Coffee Ltd. and its domestic rivals shipped 117,976 metric tons in the seven months ended July 31, compared with 149,720 tons a year ago, said N.V. Nagarajaiah, deputy director at the Coffee Board. Shipments slumped 35 percent in value to $256.1 million, the board said.
India lowered its production estimate for a second time in April after excessive rains damaged the crop in southern Indian state of Karnataka, the biggest coffee-bean grower. Production will decline to 262,300 tons in the year to Sept. 30, compared with 276,600 tons forecast in November, the board said April 30.
Exports fetched 107,413 rupees ($2,245) a ton on average, 0.6 percent more than a year ago, Nagarajaiah said. Shipments in the January-July period included 11,416 tons of re-exports, compared with 14,380 tons a year earlier, he said.
Italy and Russia were among the buyers of Indian coffee.