coffee: coffee exporters worried about rising freight rates


BENGALURU: In an interactive session between Union Trade and Industry Minister Piyush Goyal and coffee producers, roasters and exporters on Saturday, several coffee exporters expressed concerns over the increase international freight rates.

According to exporters, Indian agro-exports to several destinations have become less competitive.

“If the government does not support agricultural exporters with increased aid under the Transport and Marketing Assistance Program (TMA), India could lose many markets for agricultural exports forever to the benefit of other competing origins, “the exporters said in an official Agriculture Ministry statement. Commerce and Industry.

However, the Union Minister assured exporters that a special agricultural export assistance program for at least a year would be considered under the TMA program to overcome the current crisis.

During the meeting, the President of the Coffee Board asked the Minister to announce the restructuring of all existing loans into one term loan with a long repayment period and also to extend the new working capital with reduced interest.

In response, the minister expressed his solidarity with coffee growers in this time of distress and assured to develop a feasible package in discussion with the ministries concerned.

In order to provide better services to coffee producers, especially small producers, the minister proposed to transfer the Coffee Council from the Ministry of Commerce to the Ministry of Agriculture. It will also ensure that the benefits of all farming programs are extended to coffee farmers, the statement said.

The meeting took place at the headquarters of the Coffee Board in Bangalore.

(The one-stop destination for MSMEs, ET RISE provides news, insights and analysis on GST, exports, finance, politics, and small business management.)

Download the Economic Times News app to get daily market updates and live business news.

About Sharon Joseph

Check Also

Todd Minerals Ltd. announces conversion of Northcliff Resources loan

Get instant alerts when news breaks on your stocks. Claim your one week free trial …

Leave a Reply

Your email address will not be published.