Market

Tea exports decline to 175.38 million kg in first 11 months of 2021

According to industry experts, the decline in exports could be attributed to shortage of containers, high ocean freight and less offtake by the lucrative Iran market due to payment issues.

Exports of tea during the first 11 months of 2021 declined to 175.38 million kg as compared to 189.83 million kg in the corresponding period a year ago, the Tea Board India said.

According to industry experts, the decline in exports could be attributed to shortage of containers, high ocean freight and less offtake by the lucrative Iran market due to payment issues.

The largest block, which imported the maximum quantity of tea was the Commonwealth of Independent States (CIS) – 40.17 million kg during the period, lower from 46.38 million kg in 2020.

Iran was the second largest buyer of Indian tea at 23.06 million kg, down from 31.60 million kg in the year-earlier period, the data available with the board showed.

The other major importing markets were the USA, UAE and the UK.

Although the export volumes declined, value realisation increased in the first 11 months of 2021, which stood at Rs 4,737.88 crore as compared to Rs 4,698.47 crore in the 2020 period.

During December 2021, production saw a sharp dip at 64.51 million kg as against 74.09 million kg in the corresponding month in 2020, as per the data.

Financial Express Telegram Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.



Source link

Leave a Reply

Your email address will not be published.