Tea Exports up 5 pc to 143.5 Million kg.

NEW DELHI: Tea exports from India increased by 5 per cent during the January-September period of the current year to 143.5 million kg, from 136.6 million kg in the corresponding period last year.

According to Tea Board data, both South and North India bettered their tally to the export kitty to 72.6 million kg and 70.9 million kg, from 71.4 million kg and 65.3 million kg respectively from the year-ago period.

However, the average price for each kg exports dipped to Rs 132.4 during the first nine months of the current year, as against to Rs 139.34 a year-ago, leading to a fall in the export revenue.

While 136.6 million kg exports during January-September period of last year fetched India Rs 1,903.77 crore, it fell to Rs 1,899.69 crore during current year's first nine months.

Industry officials said the average price fell as the superior-grade Assam tea was badly damaged during the year due to excessive rain and pest attacks.

India exports CTC (crush-tear-curl) variety of tea mainly to Egypt, Pakistan and the UK and the premium orthodox variety of tea to Iraq, Iran and Russia.

Basudeb Banerjee, who recently relinquished from the post of Tea Board Chairman, had earlier said that tea exports from the country could be around 200 million kg this year.

Meanwhile, imports of tea into the country also dipped to 12.96 million kg during the January-August period of current year, from 15.82 million kg in the year-ago period.

India imports tea only to re-export to countries like Iraq and Iran.

Source : economictimes.indiatimes.com