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LATEST NEWS UPDATES | Russia-Ukraine war hits Indian tea prices -Avijit Sinha

Russia-Ukraine war hits Indian tea prices -Avijit Sinha

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published Published on Nov 3, 2022   modified Modified on Nov 3, 2022

-The Telegraph

At the start of current tea season, tea stakeholders had feared if exports would go down in CIS countries of which Moscow is a part, because of the war

Siliguri: The price of Indian teas has seen a dip in Russia and some other countries of the CIS (Commonwealth of Independent States), during the first eight months of the current year, compared to the corresponding period last year.

Representatives of the tea industry attribute it to the ongoing war between Russia and Ukraine. Of the total tea exported from India, close to 27 per cent is sent to these countries.

At the start of this tea season, stakeholders had feared a decline in export to the CIS countries because of the ongoing war.

But there was a rise in tea export, albeit marginal.

“Tea export has shown a marginal rise of around 1.43 million kilos (around 1 per cent) in the CIS countries. But prices have gone down. This, we believe, is because of the war situation,” said Prabir Bhattacharjee, secretary general, Tea Association of India.

According to data available with Tea Board of India,  in Russia, the average price of a kilo of Indian teas was Rs 183.36, which reduced to Rs 160.63 this year. The average price per kilo in Kazakhstan was Rs 211.55 in 2021, which has come down to Rs 168.66 this year.

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The Telegraph, 3 November, 2022, https://www.telegraphindia.com/west-bengal/russia-ukraine-war-hits-indian-tea-prices/cid/1895790


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