The correct answer is option 1: Both the statements are individually true and Statement II is the correct explanation of Statement I.

Statement I states that virgin soils of newly cleared forests give higher yields of coffee. This statement is true because virgin soils, which have not been previously cultivated, often have a higher nutrient content and better soil structure, which can support the growth and yield of coffee plants.

Statement II states that coffee is a soil nutrient exhaustive crop. This means that coffee plants require a significant amount of nutrients from the soil to support their growth and development. This statement is also true because coffee plants have high nutrient demands and can deplete nutrients in the soil over time.

Therefore, both statements are true and Statement II provides the correct explanation for Statement I. The higher yield of coffee in virgin soils can be attributed to their nutrient-rich composition, which meets the demands of the nutrient exhaustive crop.