India’s coffee exports in the April-September period of the current financial year rose marginally in rupee value terms on higher realisations aided by a weaker currency. This is despite a decline in volumes during the period.

Coffee shipments were valued at ₹2,788.9 crore during the period, up 1.12 per cent over the same period last year’s ₹2,757.89 crore. However, in dollar terms, the shipments were lower by about 6 per cent at $370.98 million as against $394.79 million in the corresponding period last year.

 

In volume terms, the shipments for the period were down by 7.45 per cent at 1.64 lakh tonnes as against 1.77 lakh tonnes last year. The average per unit realisations were up 9.3 per cent y-o-y at ₹1,69,865 per tonne as against ₹1,55,448 per tonne.

Ramesh Rajah, President of the Coffee Exporters Association, said the outlook for the next few months is not that great. “We

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(RTTNews) – European stocks look set to open a tad higher on Friday after China said it has agreed to hold talks with U.S. officials soon to review progress on their preliminary deal.

However, the Trump administration reportedly declined to acknowledge any plans to meet with China over the Phase 1 trade deal.

There is some good news on the vaccine front as Pfizer Inc. and BioNTech SE said the Covid-19 vaccine they are jointly developing is on track to be submitted for regulatory review as early as October, assuming clinical success.

Asian markets traded mostly higher, while the dollar edged lower after the release of disappointing data. Gold rose but held below $2,000 an ounce.

Oil edged higher and remained on track for a third weekly gain after an OPEC+ internal report said that oil demand is forecast to fall by 9.1 million barrels per day (bpd) in 2020,

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