India's Tea Exports Surge 23.79% In January-July 2024, Reaching 144.50 Million Kilograms

Tea exports between January and July this year have touched 144.50 million kilograms, up by 23.79% from the year-ago period, Tea Board said.

The country had shipped out 116.73 million kilograms in the corresponding period of the 2023 calendar year.

Unit price realisation, however, has declined to Rs 256.37 per kilogram during the first seven months of 2024 as against Rs 264.96 per kilogram in the previous corresponding period.

Meanwhile, the commerce ministry has approved a scheme for development and promotion of the tea industry, involving an outlay of Rs 664.09 crore, a Tea Board official said.

The amount would be spent during the remaining period of the 15th Finance Commission cycle from the 2023-24 financial year to 2025-26 under the Tea Development and Promotion Scheme.

The approval covers major components such as plantation development and quality upgradation, promotion and market support, technological intervention, research and development and welfare and capacity-building measures.

Earlier in September, the industry reported sluggish growth in domestic consumption, rising food inflation and slow recovery of exports post the Covid pandemic as some of the challenges faced by the tea industry.

Tea producer associations and the Tea Board India had raised concernes over the muted demand growth in the country.