The Hindu Business Line : Tea imports bill rises by Rs 3.47 cr in first quarter

At a glance
Average price of Rs 67.06 a kg is lower by Rs 7 last year.
Import of more volume – 3.04 million kg against 2.28 mkg last year.
Overall import bill rises to Rs 20.42 crore from Rs 16.95 crore.

P.S. Sundar

Coonoor, June 2

India’s tea import bill in the first quarter of calendar 2008 has increased Rs 3.47 crore over last year, an analysis of the data available with the Tea Board and various importing sources reveals.

This has happened because more volume has been imported in the wake of prices falling for the chosen teas.

India could get teas for an average price of Rs 67.06 a kg – lower by Rs 7 over last year. So, more volume was imported – 3.04 million kg against 2.28 mkg last year. Consequently, the overall import bill rose to Rs 20.42 crore from Rs 16.95 crore.

The country imported teas from a dozen trading nations. The highest bill of Rs 5.83 crore was paid to Kenya (Rs 5.15 crore). At a higher price of Rs 86.56 a kg (Rs 82.44), 6.74 lakh kg were imported against 6.24 lakh kg.

The second highest bill of Rs 4.62 crore (Rs 3.33 crore) was paid to Indonesia for 8.23 lakh kg (4.49 lakh kg). The higher import was kindled by cheap prices, averaging Rs 56.14 a kg against Rs 74.14.

Nepal received Rs 3.31 crore (Rs 1.03 crore) despite the unit price rising by Rs 4 to average Rs 56.01 a kg, for 5.92 lakh kg (1.98 lakh kg) last year.

India paid as much as Rs 1.11 crore (Rs 45.17 lakh) to Papua New Guinea as it imported 1.9 lakh kg against a mere 65,240 kg following the prices dropping to Rs 58.72 a kg from Rs 69.24.

As for tea from Sri Lanka is concerned for which a concessional import duty prevails, India paid Rs 1.02 crore (Rs 86.7 lakh) as the volume imported rose to 83,480 kg from 43,520 kg, following the prices crashing to Rs 122.46 a kg from Rs 199.23.

The UK received Rs 1 crore against Rs 92.70 lakh with the volume rising to 51,620 kg from 44,460 kg. Prices dropped to Rs 193.94 a kg from Rs 208.51 last year.

Import bill rose in respect of teas received from Argentina and Zimbabwe.

Drop in Vietnam, China, Nepal

Teas from Vietnam, hailed to be the cheapest supplier, dropped to 1.73 lakh kg from 4.3 lakh kg while the price rose by Rs 2 to reach Rs 51.66. Consequently, only Rs 89.72 lakh were paid this year against Rs 2.14 crore last year.

Import bill declined in respect of China and Nepal as well.

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