Tea export revenue down 3 percent in April-August

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SME Times News Bureau | 18 Nov, 2015
Hit by lower global tea prices, revenue from tea exports during April-August this year fell by nearly three percent at USD 225.76 million even though export volume in this period grew by 4.35 million kg (mkg).

According to provisional data from the Tea Board of India, export volume in the April-August period in 2015-16 fiscal stood at 74.79 mkg as against 70.44 mkg in the like period of 2014-15.

The revenue in the same period of the last fiscal stood at USD 232.57 million as against USD 225.76 million in the corresponding period of the current fiscal.

Average unit prices, measured both in US dollar as well as Indian rupee terms dipped during this period.

While each kg of the export sold at an average price of USD 3.30 during April-August of 2014-15, it dipped to USD 3.02 a kg in the like months of 2015.

Measured in terms of the Indian rupee and adjusted against global currency fluctuations, each kg of tea exported earned a revenue of Rs.192.71 during April-August of 2014-15 while it stood at Rs.198.38 in the year-ago period.

Interestingly, although revenues fell when measured in US dollar terms despite the surge in export volume, the same revenue increased when measured in terms of Indian rupee.

Against the earning of Rs.1,397.41 crore during the beginning till August of the last fiscal, the income increased to Rs.1,441.29 crore in the similar period this year.

Exports to Russia, Britain and Pakistan -- the three top tea importers -- increased significantly in the period under review. However, exports to Iran declined from 5.45 mkg in the April-August months of 2014 to 5.15 mkg in the like months this year.