The Hindu Business Line : Indian teas post highest rise in 2004

INDIAN teas posted the highest improvement in prices in 2004 over the previous year as per analysis of the latest information from the auction centres across the globe.

Indian teas fetched $1.43 a kg on the average in 2004 against $1.2 in the previous year, posting an increase of 19.17 per cent.

Sri Lankan teas fetched a higher average of $1.78 a kg, but compared to $1.54 in the previous year, the increase was only 15.58 per cent.

Likewise, in the Mombasa auctions, the Kenyan teas fetched $1.55 a kg on an average, but it was just marginally higher than $1.54 of the previous year, showing a rise of a mere 0.65 per cent.

The Jakarta auctions recorded an average of $1.02 for the Indonesian teas against $0.95 in 2003, marking an increase of 7.37 per cent.

But at the Chittagong auctions, the Bangladeshi teas suffered a fall in price to average $1.06 a kg from $1.16, posting a decline of 8.62 per cent.

However, the overall earnings for the countries concerned showed vast differences.

The earnings of the Indian produces were restricted by the sharp reduction in the volume produced, by 35 million kg to 822 million kg.

Likewise, Indonesian earnings were also limited by the reduction of 2.2 million kg in the crop to 77 million kg.

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