Wait...
  1. Home >
  2. Export Import News >
  3. Export News >
  4. India tea may benefit from Sri Lanka wage hike,Vietnam problems >
  5. India tea may benefit from Sri Lanka wage hike,Vietnam problems

Online Export Import Data Search

recentSearch
Complete Training Video : Click Here

India tea may benefit from Sri Lanka wage hike,Vietnam problems.


Date: 20-12-2018
Subject: India tea may benefit from Sri Lanka wage hike,Vietnam problems
Indian tea is expected to benefit from wage hike in Sri Lankan plantations and residue (pesticide) problems in Vietnam, traders said.

Domestic tea production during 2018 is expected to stay more or less the same as last year despite lower rainfall, while exports are expected to marginally increase.

India is the second largest producer of tea in the world and contributes 26% to the global production.

Parimal Shah, vice-president, MK Jokai Agri Plantations, said tea production is estimated to be marginally lower at about 1,300 million kilogram (mkg), against 1,322 mkg in 2017.

“Despite lower rainfall, when compared to 2017, production is seen commendable with December output estimated at 55 mkg. Assam production is likely to end up marginally higher at 614 mkg, against 600 mkg last year,”he added.

According to the state-run Tea Board data , India’s tea production for the January-October of 2018 stands at 1,117.6 mkg, against 1,127.2 mkg in the year-ago period. South Indian tea production for 10 months of 2018 stands at 187.6 mkg, against 197.3 mkg in 2017. North Indian tea production for 10 months of 2018 was 929.98 mkg, against 929.85 mkg in the same period last year.

Shah said on the price front, it has been a modest year with nothing spectacular. “Movement of tea was bit erratic due to the sanction problems in Iran and the prices were low. But, once it becomes clear that India could export to Iran, tea prices have picked up sharply. Wage hike across plantations is a big concern for the organised sector.” He added the share of wages come to 60-65% of the total production cost for organised players for tea plantations.

Average auction prices for the first 11 months of 2018 was `138.20 per kg, against `132.79 per kg in 2017.

The expected wage hike in Sri Lankan plantations is estimated to help South Indian orthodox production , according to Sriram Narayanaswamy, president, Global Tea Brokers.

“We have seen good demand for South Indian orthodox tea with problems seen in Vietnam and Indonesia. An increase in Sri Lankan tea production cost could help South Indian tea, and more producers are seen moving to orthodox from CTC (crush, tear, curl),” he said.

Sriram adds that the export of CTC tea to Egypt and Pakistan is also seen higher for the year.India exports the CTC tea variety mainly to Egypt, Pakistan and the UK and the premium orthodox variety to Iraq, Iran and Russia.

Source: financialexpress.com


Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 16-08-2019
A.P. (DIR Series) Circular No. 06
Foreign Exchange Management (Deposit) (Amendment) Regulations, 2019 – Acceptance of Deposits by issue of Commercial Papers

Date: 14-08-2019
Notification No.60/2019 - Customs (N.T.)
Exchange Rates Notification No.60/2019-Custom(NT) dated 14.08.2019.

Date: 14-08-2019
Notification No. 61/2019-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg.

Date: 14-08-2019
PUBLIC NOTICE NO. 25/2015-2020
Modification of Para 4.12(vi) of HBP and addition of Appendix 4P to Hand Book of Procedures 2015-20 – reg.

Date: 13-08-2019
Notification No.59/2019 - Customs (N.T.)
Exchange Rates Notification No.59/2019-Custom(NT) dated 13.08.2019.

Date: 13-08-2019
Instruction No. 03/2019-Customs
Recovery of Export benefits given under incentive and Reward Schemes under Chapter 3 of FTP on re-import of export goods.

Date: 10-08-2019
NOTIFICATION No. 32/2019-Customs (ADD)
Seeks to impose anti-dumping duty on imports of "Homopolymer of vinyl chloride monomer (suspension grade)" originating in or exported from China PR and USA for 30 months with effect from 13th August, 2019, in pursuance of SSR investigation by DGTR.

Date: 08-08-2019
Notification No. 57/2019-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver.

Date: 08-08-2019
Trade Notice 29/2019-20
Online filling of applications for claiming assistance under Transport and Marketing Assistance (TMA) for Specified Agriculture Products Schem

Date: 08-08-2019
Notification No. 58/ 2019-Customs (N.T.)
Further amending Notification No. 12/97-CUSTOMS (N.T.), dated the 2nd April, 1997



Exim Guru Copyright © 1999-2019 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001