Commodities

Iran turns big buyer of Indian tea

PS Sundar Coonoor | Updated on December 26, 2019 Published on December 26, 2019

The Commonwealth of Independent States (CIS) continues to be the largest importer of Indian teas, but Iran emerged as the most promising market this year.

According to the latest data available with the Tea Board, the CIS imported 48.23 million kg (mkg) of teas from India till October this calendar and topped the list of importers. However, the volume shipped was down from 52.99 mkg recorded in January-October 2018.

The price also fell to $2.34 a kg from $2.38, due to exchange rate fluctuations. The overall earnings from shipments to the CIS dropped to ₹794.52 crore from ₹855.49 crore.

Iran developed a keen taste for Indian teas and in the ten months, imported 47.45 mkg against 23.70 mkg in January-October 2018. Besides, Iran paid a higher price – ₹276.32 a kg against ₹244.54 in January-October 2018. With higher volume shipped at a better price, the overall earnings from exports to Iran more than doubled to ₹1,311.15 crore from ₹579.57 crore.

Exports to the UAE were 10.30 mkg and the US 10.15 mkg. Exports to no other country exceeded 10 mkg in the ten months.

Overall, in the ten months, India exported 206.69 mkg (January-October 2018: 208.36 mg) worth ₹4,688.83 crore (₹4,281.07 crore) with the average price rising to ₹226.85 a kg (₹205.47).

Published on December 26, 2019
This article is closed for comments.
Please Email the Editor