Financial Daily from THE HINDU group of publications
Tuesday, May 24, 2005
Financial Daily from THE HINDU group of publications Tuesday, May 24, 2005 |
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Agri-Biz & Commodities
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Tea Tea import bill soars 133 pc Our Correspondent
COONOOR: Tea import bill in the 11 months of 2004-05 rose 133 per cent over the same period previous fiscal owing to more than threefold increase in the volume. According to the information available with the Tea Board, till February, 31.7 million kgs (mkg) were imported against 10.3 mkg in 2003-04. More volumes were imported because teas were available for a cheaper price in the global market. Last fiscal, on an average every kg of tea imported was cheaper by Rs 14 to tag Rs 44 a kg. Consequently, the import bill shot up to Rs 140.39 crore from Rs 60.17 crore in the previous year. The largest volume of 18.5 mkg came from Vietnam at Rs 33 a kg. Some low priced teas were imported from Turkey (Rs 28.15 a kg) and Iran (Rs 30.35). Teas from China were imported for Rs 35.84. The highest price was paid to South African teas at Rs 187.85. Next to Vietnam, the largest volume came from Kenya (3 million kgs, average price Rs 80.88), followed by Indonesia (2.4 million kgs, Rs 56.73). From the controversial Sri Lanka, only 4.5 lakh kgs at Rs 78.54 a kilo were imported. Interestingly, teas also came from trading sources in the UK, US, Germany, Argentina, Singapore, Thailand and Australia.
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