New Delhi (PTI): India has pruned its tea exports estimate for this fiscal by 5 per cent to 200 million kg citing poor supply from the southern region, but expects the output to meet forecast.
"We think tea exports may touch just about 200 million kg compared with the earlier projection of 210 million kg. (But) Production may touch (the target of) 960 million kg," Tea Board Chairman Basudeb Banerjee said.
India, the world's second largest tea producer, shipped 157.78 million kg of tea abroad till January this fiscal while the production was 912.45 million kg. The country exported 179 million kg of tea in 2007-08 and produced 945 million kg.
Tea exports already have come under pressure, with shipment in January slumping by 25 per cent to 12.69 million kg, compared to 16.89 million kg in the same period last year, according to the data available with the Kolkata-based Tea Board.
"The decline in the availability of tea from the southern part of the country impacted exports, especially in January, even as output did not decline accordingly. Usually, the supply from the northern region declines towards January and shipment hinges upon that from the south," Mr. Banerjee said.
However, an industry official said even the new target of 200 million kg is hard to meet as supply from southern India is set to be low till the end of this fiscal.
Source : The Hindu