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Outlook
The tea industry
after having faced the vagaries of weather in 1999 is on the
journey to recovery but only in production terms, in terms of
prices and consumption the condition is still the same. The slow
growth rate of consumption in the domestic market and falling
prices have resulted in tea plantations to push for exports. The
industry is depending on export orders from Iraq and also on the
debt repayment scheme for trading with Russia. With CIS being the
biggest importer of tea in the world and also with Russia being the
biggest market for Indian tea exports, Indian tea companies are
hoping to regain its position in the tea export
market.
Also with government
allowing import of tea from Sri Lanka for re-export at concessional
import duty the Indian tea industry especially south based industry
is going to face tough challenge from the imports. The tea is
lobbying hard to get some kind of concession from the government
for survival. Imports, currently not permitted for domestic
consumption, are unlikely to be ever allowed duty free even under
WTO. Around 50mn kg of high quality Indian tea will always have a
secured market in Europe and other countries.
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Untitled Document
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