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India set for bumper grape crop

  • India set for bumper grape crop

    by Market Insider

    Thursday, 21 Nov. 2013

    India is set to see a second consecutive year of record grape exports with its crop in particular demand in Russia and throughout Europe. This is a source of some concern for Indian exporters as record shipments in 2012 resulted in a severe oversupply in Europe, with prices dropping by 50% towards the end of the season.

    A second consecutive year of record grape exports is likely and brings fears of another price crash in Europe; India is practically the only supplier to Europe during February to April and competition among exporters may lead to a price crash towards the end of the season as happened in 2012/13. There are concerns that a grape oversupply may also cause crashes in India’s domestic market in March next year.

    Meanwhile, according to the All India Grape Exporters Association, Russia has risen to become a leading market for Indian grapes, with shipments growing tenfold from 2010 to 2012; from just about 100 containers in 2010, the country exported 1,000 containers to Russia last year and have now started getting direct orders from the supermarkets so that more shipments are now being sent directly from Indian exporters rather than having to go through middlemen.

    Despite Russia’s rise, the European Union remains Indian exporter’s preferred destination due to the reliable returns their produce generally receives.

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