RI coffee exports record 7.5% growth

RI coffee exports record 7.5% growth

SINGAPORE (Dow Jones): Indonesia's coffee exports rose 7.5% on-year to an estimated 162,301 metric tons in the eight months to end-May, according to data Friday from the Association of Indonesian Coffee Exporters, or AEKI.

In terms of export value, Indonesian coffee exports in the October 2000 through May 2001 period totaled US$130.5 million compared with US$197.3 million in the corresponding period in 1999/2000.

The decline in value is due to falling world coffee prices, which have adversely affected returns of coffee growers in many producing origins.

Japan, U.S. and Germany were the biggest buyers of Indonesia coffee between October 2000 and April 2001, taking up 25,805 tons, 18,403 tons and 15,301 tons, respectively, AEKI said.

The benchmark robusta coffee contract at the London International Financial Futures and Options Exchange has fallen 36 percent in the past 12 months to $559 a metric ton at Thursday's close.

Arabicas have fallen 35 percent on New York's Coffee, Sugar and Cocoa Exchange to 58.20 cents a pound on the nearby contract.

Indonesia is the world's second largest producer of robusta coffee after Vietnam.