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India's Tea Industry Suffers Double Whammy From Lockdown And Floods

by GoNews Desk 1 month ago Views 1006
Tea Industry Suffers Double Whammy From Lockdown A
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Amid the Coronavirus pandemic, when the pockets have dried up, tea has become expensive by 42%. Though tea selling companies have increased prices by 20% in July-August, companies fear that if the price is increased wildly, consumption will reduce.

The biggest reason for the price rise is the decrease in production during the lockdown. The tea gardens of West Bengal and Assam suffered significant losses due to lockdown as well as heavy rains in June-July. The impact of the double whammy on the tea gardens was that in the first six months of 2020, compared to last year, the production was reduced by 26%, which is 3.48 crore kg. However, Tea Board India estimates that production may increase in the last six months of the year.

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At present, the CTC tea sold in the market last year at Rs 171 per kg, is now selling at Rs 303 per kg. CTC tea of ​​Assam is famous all over the world. It is considered to be very beneficial for health and is effective in killing cancer cells. CTC tea is commonly exported to Egypt, UK and Pakistan. Apart from this, tea is also exported to India in a big way in Iran, Iraq and Russia.

In the same way, the price of dust tea is for Rs 184 per kg, has increased to Rs 310 per kg. A large population of the country uses this dust tea every morning.

India is the second-largest tea producer in the world, but the record increase in its prices in the domestic market may have an impact on exports. Experts believe that it can directly benefit countries like Sri Lanka and Kenya. Statistics show that the country's tea exports have decreased by 26% in the first five months of 2020 compared to last year.

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