Financial Daily from THE HINDU group of publications
Friday, Oct 08, 2004
Financial Daily from THE HINDU group of publications Friday, Oct 08, 2004 |
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Agri-Biz & Commodities
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Tea Industry & Economy - Exports & Imports Tea import bill shoots up by Rs 39 cr P.S. Sundar
Coonoor , Oct. 7 THE tea import bill in the first seven months of the current calendar has increased by Rs 39.05 crore (c.i.f value) over the same period a year ago. This happened despite a fall in the unit price because of the rise in volume of the imported teas. According to the Tea Board, the imports rose to around 15 million kg from a mere 4.77 million kg last year. More teas could be imported because the price has fallen to Rs 45.55 a kg from Rs 61.37 last year. Consequently, the overall import bill shot up to Rs 68.31 crore from Rs 29.26 crore. Of the near 15 million kg imported, as much as 13.13 million kg were re-exported or declared for re-export. So, only the balance of 1.86 million kg remained without the purpose of import being undeclared. But, this includes a volume of 1.81 million kg imported from Nepal. In 2003, of the 4.77 million kg imported, as much as 3.58 million kg were re-exported. This left 1.19 million kg (including 1.15 million kg imported from Nepal) as import for undeclared purpose. Industry sources contend that the volume of undeclared imports means the imported teas sneaked into the domestic market. As for the controversial import from Sri Lanka, the Board has pointed out that only 0.13 million kg were imported from the Island during this period against 0.28 million kg last year. This added up to a value of Rs 1.27 crore this year against Rs 2.76 crore. The unit price of the imported tea this year rose to Rs 98.05 a kg from Rs 97.01. Under the free trade agreement with Sri Lanka, a volume of 0.077 million kg worth Rs 0.82 crore was imported against 0.053 million kg worth Rs 0.45 crore under the non-FTA.
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