TEA AUCTION
Combined fall in tea production in north India till June-end seen at 60 Mkg less than in same period last year
Sandeep Singhania, President, Tea Association of India stated that the Production figure of North Indian Tea Industry reflect a precarious state of affairs in the industry, consequent to the constant onslaught of insufficient rainfall and excessive heat, hampering production of the crop to a great extent during the current cropping season up to the month of May 2024.
Tea Association of India flags a strange phenomenon
Tea Association of India (TAI) stated that the strange phenomenon of drop in crop production with no concomitant rise in prices is in stark contrast to the 2020 scenario when drop in production due to covid closure caused a sharp rise in realization of tea prices.
Production of tea down all over India by 13 million kg
Tea industry in season 2024 faces challenges with production declines, weather issues, and financial stress. Darjeeling sector seeks relief package for survival amidst declining yields and prices.
Tea industry issues hold key in north Bengal polls
The sector is plagued by the twin blows of rising production costs and lower price realisation at the auctions, former Tea Board chairman P K Bezbaruah said. This might have thrown the planters' business and livelihood of 4.5 lakh tea garden workers into jeopardy, but political parties get an opportunity to woo them with promises.
Assam urges Centre to consider deferring enforcement of sale of 100% dust grades tea through auction
"We urge you to issue appropriate orders on priority, keeping in mind the best interests of the tea industry in Assam and, more importantly, the welfare of small tea growers and associated stakeholders. Your prompt action in this regard will be highly appreciated."
North Eastern Tea Association urges Assam govt to engage cricketer Dhoni as brand ambassador of Assam tea
North Eastern Tea Association (NETA) advocates M S Dhoni as Assam tea ambassador. The 21st Biennial General Meeting (BGM) of NET was held at Guwahati recently. Chairman of NETA Kamal Jalan, during his speech stated, “In a liberalised globalised economy we feel there is no need for Government to issue a notification to compulsorily sell certain percentage of tea through public auction. The Government should not try to regulate one segment of the trade (in this case, it is the tea producers) where Govt has no control on the market forces. "
Tripura Chief Minister Manik Saha laid the foundation stone of state’s first tea auction centre
After laying the foundation stone of the proposed tea auction center, the Chief Minister said on the X: “A leap towards development of tea industry in Tripura. Today laid the foundation stone of Agartala Tea e-Auction Centre was laid at Gurkhabasti complex. This will largely benefit the tea growers of the State & take Tripura tea to new heights”
Planters, exporters hail 100% auction of dust-grade tea
ITA, the oldest and the largest association of tea producers, pledged its unequivocal support to the Tea Board and the commerce ministry in this endeavour.
Tea production falls by 6.18pc to 127.12 mkgs in Nov 2023
For tea estates in Darjeeling and gardens located at higher elevations, the last date for plucking of green leaves was December 11, 2023. The same for North Bengal's Dooars and Terai regions was December 23.
Low export demand and sluggish rural consumption to dampen tea realisations for North India estates, says ICRA
The all-India production of bulk teas in the first 10 months of CY2023moderated by 22 Mkg (~2%) on a YoY basis and ICRA expects the full-year production to ease by ~1% compared to CY2022. Tea output in Kenya is likely to increase in CY2023 over the previous year, given that their production in 8M CY2023 is already up by ~7% on a YoY basis.
Assam Pavilion opens up at India International Trade Fair, 2023
A slew of initiatives like One District One Product, GI products such as Assam Lemon, Gamusa, Muga silk etc.along with traditional dresses of Assam, Ease of Doing Business, Assam Start Up etc are being promoted in the Fair.
Tea industry passing through acute financial crisis: ITA
According to the Indian Tea Association (ITA), the domestic industry is facing acute financial crisis as prices are not keeping pace with the surging costs of production.
Present tea auction system not helping in optimum price discovery in North India: Producers
"In the previous English auction system, division of lots were allowed. One lot is more than 30 packets. If these lots are divided, then the smaller buyers would be able to participate. But they are not able now in the present model. As a result, competition is less and hence price discovery is not to the optimum extent", the official said.
India's tea auction system under severe stress as buyers purchase teas privately
India's tea auction system is under strain as teas are increasingly being purchased privately. Buyers, both domestic and international, prefer private transactions for the longer-term credit options they offer, whereas auction purchases mandate payment within 13 days. This trend has prompted a 70% shift amongst large buyers towards private sales, leading to a reduction in auction competition and a negative impact on future private levels.
International Tea Day auction: mjunction sells 580 kg of premium tea at average price of Rs 324 per kg
mjunction services limited, a B2B e-commerce company, on Tuesday organised the Special International Tea Day auction where a total of 580 kgs of premium tea was sold at an average price of Rs 324 per kg. mjunction had displayed a catalogue of premium Assam CTC marks like Bahani, Narayanpur Panbarry, Tirual, Rungliting, Joya, Nagabari from Nagaland, and premium handcrafted teas from Diroibam, Pabhojan. Pu’er Tea from Gauripur was also on offer.
India's tea industry getting drowsy, needs some 'kadak' measures
If strong measures are not taken, the industry could be struggling for survival. It is beset by problems on several fronts: Price, demand, production and labour. If global demand going tepid wasn't enough, it now faces challenges from climate change,
Total wage for tea estate workers in West Bengal to increase soon: ICRA
ICRA has reported that tea producers in West Bengal may face margin pressure due to the estimated 6% increase in the total wage rate per day for tea estate workers from June 1, 2023, as part of a long-term wage settlement. The proposed wage hike would cost an additional Rs. 9/kg, increasing the cost of production.
Tea planters suffering from 'crop loss', 'falling' prices in Tripura
Tea plantations, the second largest industry in the state after rubber, are facing "crop loss" this season due to a drought-like situation, Tripura Tea Development Corporation (TTDC) chairman Santosh Saha said.
Economic uncertainties in Europe weigh on demand for Darjeeling tea
Darjeeling tea planters are facing a drop in demand for its top-quality first-flush tea from European and Japanese buyers, amid ongoing economic uncertainty. While both markets traditionally import the first-plucking of the season tea, buyers are unwilling to fork out at least Rs 8,000 ($118) per kg for high-quality first flush teas, even though it contributes 30-35% of value thanks to its high quality and price.
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