India’s Jan-Oct tea imports fall 14.6% as price rises

Friday, 30 December 2011 00:35 - - {{hitsCtrl.values.hits}}

Coonoor, Dec. 27: The tea import bill fell by 9.12 per cent year-on-year in the first 10 months of current calendar as suppliers raised prices, an analysis of latest data available with importers’ organisations and the Tea Board revealed.

Between January and October, the asking price for imported tea rose to Rs 94.87 a kg from Rs 89.10, up Rs 5.77 or 6.48 per cent. Consequently, importers reduced offtake to 14.15 million kg (mkg) from 16.57 mkg, down 2.42 mkg or 14.6 per cent. Due to this, the tea import bill reduced by Rs 13.47 crore or 9.12 per cent to Rs 134.2 crore from Rs 147.67 crore. In dollar terms, India’s import bill reduced to $29.39 million from $32.23 million despite the price rising to $2.08 a kg from $1.94.

In 2010, India imported 20.04 mkg (25.67 mkg in 2009) of tea worth Rs 184.94 crore (Rs 216.03 crore) at an average price of Rs 92.26 a kg (Rs 84.16). India imported teas from about 15 origins, including some trading origins.