The price of Indian grapes in Europe has fallen by one third compared to the same period last year due to market oversupply, reports The Times of India.
President of the Grape Exporters' Association of India (GEAI) Jagannath Khapare told the paper that Indian grape prices in Europe have dropped from Rs55-60 (US$1.09-1.19) per kg last year, to Rs35-40 (US$0.7-0.8) this year – disappointing news for Indian growers, who usually get good returns from European exports.
'Grapes from Argentina and South Africa has started arriving in European countries three months ago in large quantities, causing a glut in the markets. Moreover, Chile also started exporting its grapes to European countries at the same time as India, worsening the situation. This has led to declining prices in Europe,' he said.
India typically ships 30-40 per cent of its total grape exports to Europe, which account for 50-55 per cent of total export earnings, according to the report.
So far, 3,960 tonnes of grapes from India's Nashik district have reportedly been exported to the UK, the Netherlands, Sweden, Thailand, Vietnam, Indonesia, Sri Lanka, Cambodia, Singapore, Malaysia, Egypt and Hong Kong.
Germany has started placing small orders with Indian exporters after blocking all Indian grape imports in 2010 when chemical residues were found to exceed EU limits.
