SME Times is powered by   
Search News
Just in:   • A Step Forward for MSMEs – But Challenges Remain  • ED raids multiple locations in Kolkata for lottery scam  • GenAI a top priority for 70 pc Global Capability Centres in India: Report  • South Korea's fiscal deficit further widens this year  • Electronic toll collection in India soars to record Rs 6,115 crore in Oct 
Last updated: 10 Oct, 2024  

Tea.9.thmb.jpg India's tea exports up over 23 pc in January-July period

IANS | 09 Oct, 2024

Tea exports from India saw a healthy 23.79 per cent growth (year-on-year) to reach 144.50 million kilograms in the January-July period this year.

According to the Tea Board of India, the country exported 116.73 million kg in the same period in the year 2023. The export of tea increased by 27.77 million kilograms this year compared to the same period last year.

However, the single unit price during the first seven months of 2024 has remained at Rs 256.37 per kg. It was Rs 264.96 per kg in the same period last year.

Meanwhile, a Tea Board official said the Commerce Ministry has approved a scheme of Rs 664.09 crore for the development and promotion of tea industry.

This amount will be spent during the remaining period of the 15th Finance Commission cycle -- financial year 2023-24 to 2025-26 -- under the Tea Development and Promotion Scheme.

The development of tea industry includes plantation development and quality improvement, promotion and market support, technical intervention, research and development and welfare and capacity building measures. Approval has been taken regarding these measures.

Earlier in September, the tea industry had cited sluggish growth in domestic consumption, rise in food inflation and slow growth in exports, following the Covid pandemic, as major challenges for the industry.

Tea producer associations and the Tea Board of India had expressed concern over the slow growth in demand in the country.

According to the 2023 data of the Ministry of Commerce and Industry, India is the second largest tea producer with production of about 1350 million kg.

The country is the largest black tea producer and is self-sufficient to meet domestic requirements and export obligations.

India consumes about 18 per cent of the world's total tea consumption.

Moreover, India is the fourth largest exporter of tea besides meeting the needs of domestic consumers.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Will the new MSME credit assessment model simplify financing?
 Yes
 No
 Can't say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter