Search Result for : Coffee

The Dollar Business Bureau Coffee exports from India recorded a growth of 11.5% year-on-year in April this fiscal on account of robust demand in the world markets. The country exported $92.42 million worth of coffee during the month. The country’s shipment of coffee stood at $82.88 million in the same month last year, as per the data by Ministry of Commerce. In terms of rupee, the exports witnessed a growth of 8.22% at Rs.596.17 crore in the given month. India primarily exports Arabica and Robusta varieties of the commodity, in addition to instant coffee. The country’s key export destinations are Belgium, Italy, Greece, Germany, Spain and Switzerland. Coffee is one of the world’s most extensively traded agriculture commodities. India’s share is around 4.5% in the overall ...

By Ranjeet Mahtani & Niraj Hande The most crucial GST Council meeting took place on 18th and 19th May, 2017 in Srinagar, Jammu and Kashmir. The GST Council has finalised seven sets of GST Rules and completed the fitment of most goods and services in various tax brackets in the last two days. Rules The GST Council has approved seven sets of GST Rules which pertain to Composition, Tax Invoice Credit & Debit Notes,Input Tax Credit, Payment of Tax, Refund, Registration and Determination of Value of Supply. The Rules pertaining to Transition and Returns were not finalised and shall require further vetting before approval. The next step will be for Governments, State and Central to now notify these. Rates The GST Council has ...

The Dollar Business Bureau The government is planning to merge all the commodity boards and establish an umbrella organisation, a decision aimed at improving production and exports of crops such as coffee, tea and spices. The Ministry of Commerce pointed out that some of these commodity boards were established prior to independence, but their merger could harmonise their activities, leading to enhanced exports. The five commodity boards are responsible for output, development and outbound shipments of coffee, rubber, spices, tea and tobacco. “India has a huge potential to boost agri exports. One board will provide better services. So, we are working to form one specialised body with different verticals,” according to a senior commerce ministry. The Coffee Board was constituted in accordance with the Coffee ...

The Dollar Business Bureau International coffeehouse chain Starbucks on Wednesday launched tea as a speciality offering in 88 stores in India under the brand of Teavana. “We had nine teas on offer and are doubling that with the launch of Teavana speciality teas. We are looking at attracting newer customers with our focus on tea, and are looking to double tea sales at our Starbucks stores,” Sumitro Ghosh, Chief Executive Officer, Tata Starbucks, told PTI. In 2016, during his visit to India, Howard Schultz, Chairman and CEO, Starbucks described the country as a ‘key business opportunity’ for the company and announced the launch of speciality teas in 2017. In June 2016, Starbucks announced various joint initiatives in India along with its joint venture (JV) partner Tata Sons, ...

The Dollar Business Bureau  Coffee production in India is likely to be 3,16,700 tonnes for the crop year 2016-17, downward by 1.03% from the earlier estimate of expected output drop due to poor monsoon. Total coffee production in India was 3,48,000 tonnes in the crop year 2015-16 (October-September). “The overall output for 2016-17 is placed at 3,16,700 tonnes, marginally lower by 1.03% over the previous estimate of 3,20,000 tonnes for the same period,” Coffee Board said while releasing its second crop projections. While comparing to the previous year’s actual production, the coffee output this year is likely to be lower by 7.05%, it said. The production of Arabica is likely to drop to 96,200 tonnes in the current crop year from last year’s 1,03,500 tonnes, whereas ...

The Dollar Business Bureau Tata Coffee on Monday announced it would establish a $50 million (about Rs.350 crore) greenfield instant coffee facility in Vietnam. “The board approved the setting up of a state-of-the-art greenfield freeze dried instant coffee facility in Vietnam of 5,000 tonnes per annum,” Tata Coffee said in a statement. “Estimated project cost is $50 million (about Rs.350 crore),” the company said. In a seperate announcement, Tata Coffee said the coffee board has appointed Anantha Murthy N as the company’s Secretary and Compliance Officer with effect from December 20, 2016. The earlier position for company secretary and compliance officer was held by Suryanarayanan NS. Tata Coffee is a subsidiary of Tata Global Beverages Ltd. The company is Asia’s largest integrated coffee company and the ...

The Dollar Business Bureau Coffee exports from India increased to 1.43 lakh tonnes during April-August this year, up more than 13% from 1.26 lakh tonnes shipped during the same period of the last fiscal. According to the Coffee Board data till September 3 this year, the value of total export during April-August period was $378 million, up 5.58% from the previous year’s figure of $358 million. In rupee terms, the country’s export value increased by 12.38% from Rs.2,148 crore last year to Rs.2,414 crore this year during the same period. India’s overseas shipment witnessed growth despite lower rate of export realisation due to sharp fall in the global cofee prices. Prices fell in the international market after the currency of Brazil, the ...

Source: PTI Global agri business group Olam International Limited, which has its roots in India, has entered into a $652 million deal with Japanese trading giant Mitsubishi Corporation for marketing agri products in Japan, the company said on Friday. Singapore-based Olam is raising 915 million Singapore dollars (US$652 million) through the share subscription with MC, which is also acquiring a stake in secondary shares from Singapore-Indian group Kewalram Chanrai Group. Following the transaction, MC will become Olam's second largest shareholder with 20% shareholding. The partnership will explore potential strategic collaboration opportunities that could cover Olam's key platforms including grains, edible nuts, cocoa, coffee, packaged foods and rice. Singapore state investor Temasek Holdings will remain Olam's majority shareholder with a 51.4% controlling stake ...