Agri Business

Tea import bill declines 14.58 %

P.S. Sundar Coonoor | Updated on January 11, 2011 Published on January 11, 2011

Tea plantation in Wayanad district. - E.M.Manoj   -  BusinessLine

Despite an increase in the price of imported teas, India’s tea import bill has fallen because of reduction in the import-volume, reveals an analysis of the information available with the Tea Board and the importers.

In the first three quarters of calendar 2010, the latest period for which official data is available, India paid an average price of Rs 88.45 a kg to import teas against Rs 85 in 2009. But, the volume imported dropped to 14.68 million kg from 17.88 million kg. That means, more volume could not be imported because of increased prices.

Consequently, the import bill declined to Rs 129.82 crore from Rs 151.97 crore. This decline of Rs 22.15 crore marked a fall of 14.58 per cent.

In dollar terms, the price of imported teas averaged $ 1.92 a kg against $ 1.74 in 2009. Consequently, the overall import bill declined to $ 28.23 million from $ 31.03.

This decline of 18 cents registered a fall of 9.02 per cent.

In financial year analysis, the volume imported in the first half of the current fiscal dropped to 9.65 million kg from 13.07 million kg last year. But, the price increased to Rs 94.54 a kg from Rs 85.74.

That means, 3.42 million kg less volume was imported as the asking price rose by Rs 8.80 a kg.

Consequently, the overall import bill dropped by Rs 20.84 crore to Rs 91.22 crore.

In dollar terms, the price rose to $ 2.06 a kg from $ 1.76. Consequently, the import bill declined to $ 19.83 from $ 23.05.

That means, 3.22 million kg less volume was imported as the asking price rose by 30 cents a kg.

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Published on January 11, 2011
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